BitMEX is all set to acquire Bankhaus von der Heydt, a German Bank
BitMEX, a cryptocurrency exchange, has announced that it is finalizing its deal with a 268-year old German Bank, Bankhaus von der Heydt, and is all set to acquire it. The exchange wrote in a blog post about the turn of events which attracted the attention of many people in the crypto community.
BitMEX deal pending with BaFin
As per the announcement, the approval of the deal is currently pending with the German financial services regulatory authority, BaFin. Bankhaus von der Heydt, a bank based in Munich, Germany, has made big headlines as the current owner of the bank, Dietrich von Boetticher, has already signed a purchase agreement.However, BitMEX and the German Bank have agreed to remain silent on the issue and haven't revealed the prices that were involved in the deal. But, it is a fact that acquiring a 268-year old bank doesn't come cheap.
The announcement comes after the launch of the BitMEX Link in Europe, which is a brokerage platform. As per the CEO of the crypto exchange, Alexander Höptner, the firm aims to combine "the regulated digital assets expertise of Bankhaus von der Heydt with the crypto innovation and scale of BitMEX," and "create a regulated crypto products powerhouse in the heart of Europe."
Europe and crytocurrencies
The deal with the German Bank is the first time a cryptocurrency services provider like BitMEX is setting forth on such a venture in the European Union. On the other hand, Spain is all set to regulate crypto promotion in the country with new advertorial guidelines. The guidelines are aimed at social media influencers who are often promoting cryptocurrencies.The CFO of BitMEX, Stephan Lutz, commented on this new journey:
"Germany, as the largest economy in Europe, combines an innovative approach to digital assets with strong regulatory oversight and the rule of law – making it a prime market for BitMEX's expansion in Europe."
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