Although Bankhaus von der Heydt offers its own stablecoin as well as digital asset custody and tokenization services, the company was available for purchase for a spell and came dangerously close to being acquired by BitMEX executives at that time.
Bitcoin Group SE, the company that runs the cryptocurrency trading website bitcoin.de in Germany, recently made the announcement that it has completed the purchase of all of the shares of Bankhaus von der Heydt. In addition to holding a complete banking licence, this financial institution also offers custody and tokenization services for digital assets.
According to an announcement that was made public on December 12, Bitcoin Group SE has reportedly made a preliminary offer to pay the owner of the bank, Dietrich von Boetticher, 14 million euros and 150,000 shares. It is anticipated that the transaction will be finalised in the third quarter of 2023, provided that it receives authorization from the German Federal Financial Supervisory Authority (BaFin).
Bitcoin Group SE disclosed in October that it was engaging in discussion with a number of financial institutions, one of which was Bankhaus von der Heydt. According to a story from Bloomberg at the time, privately owned Bankhaus von der Heydt sought to introduce digital asset trading and custody services in an effort to reestablish profitability, but the company was unable to finance the necessary equipment on its own. The bank was successful in creating a euro-denominated stablecoin, known as EURB, in the year 2020; however, Know Your Customer requirements prevented the coin from being openly exchanged.
This is not the first acquisition Bitcoin Group SE has made in the banking sector in Germany; in fact, this is merely the most recent one. In a merger that was first announced in 2018, and then completed in 2020, the group officially became the owner of futurum bank. Additionally in 2018, Bitcoin Group SE completed the acquisition of investment bank Tremmel Wertpapierhandelsbank, which afterwards merged with futurum.
The Bankhaus von der Heydt is a Munich-based financial institution that was founded in 1754. In January, BMX Operations, a business that was established by BitMEX personnel, made an offer to buy Bankhaus von der Heydt. However, negotiations between the two parties were terminated in March.
In a survey conducted during the third quarter of 2022 by Coincub, Germany was identified as having the most attractive crypto economy in the world. Switzerland and Australia came in second and third, respectively, in the survey, with the United States coming in seventh overall.