BXM Operations Plans to Buy Germany’s Bankhaus von der Heydt

Wednesday, 19/01/2022 | 08:01 GMT by Bilal Jafar
  • BitMEX Group aims to expand its presence in the European region.
  • Bankhaus von der Heydt is one of the oldest banks in Germany.
germany

In an effort to create regulated crypto products, BXM Operations AG, a company founded by Alexander Höptner, the CEO of BitMEX, and Stephan Lutz, the CFO of BitMEX, has announced its intention to acquire Munich-based bank Bankhaus von der Heydt.

Through the acquisition, the company is planning to enhance its operations in the European region. According to BitMEX Group, it aims to establish a one-stop-shop for regulated cryptocurrency products in Germany, Austria and Switzerland. Dietrich von Boetticher, the current owner of Germany’s Bankhaus von der Heydt, and BXM Operations AG have signed a purchase agreement.

Subject to regulatory approval from BaFin, the mentioned transaction is expected to be completed in mid-2022. The financial details of the deal were not disclosed.

Commenting on the planned purchase, Höptner said: “Through combining the regulated digital assets expertise of Bankhaus von der Heydt with the crypto innovation and scale of BitMEX, I believe we can create a regulated crypto products powerhouse in the heart of Europe.”

In addition to its European presence, BitMEX has expanded its operations significantly during the past 12 months. Earlier this month, the crypto firm collaborated with Tokeny for the native exchange token launch.

German Crypto Ecosystem

In terms of GDP, Germany is the biggest economy in the EU region. With the growing popularity of crypto assets, the country has gained the attention of leading players in the global crypto ecosystem. In addition, Germany-based financial institutions have enhanced their crypto-related services. In March 2021, Donner & Reuschel, a private bank headquartered in Hamburg announced its plans to offer digital asset services.

“Germany, as the largest economy in Europe, combines an innovative approach to digital assets with strong regulatory oversight and rule of law, making it a prime market for BitMEX’s expansion in Europe,” Lutz added in the press release.

In an effort to create regulated crypto products, BXM Operations AG, a company founded by Alexander Höptner, the CEO of BitMEX, and Stephan Lutz, the CFO of BitMEX, has announced its intention to acquire Munich-based bank Bankhaus von der Heydt.

Through the acquisition, the company is planning to enhance its operations in the European region. According to BitMEX Group, it aims to establish a one-stop-shop for regulated cryptocurrency products in Germany, Austria and Switzerland. Dietrich von Boetticher, the current owner of Germany’s Bankhaus von der Heydt, and BXM Operations AG have signed a purchase agreement.

Subject to regulatory approval from BaFin, the mentioned transaction is expected to be completed in mid-2022. The financial details of the deal were not disclosed.

Commenting on the planned purchase, Höptner said: “Through combining the regulated digital assets expertise of Bankhaus von der Heydt with the crypto innovation and scale of BitMEX, I believe we can create a regulated crypto products powerhouse in the heart of Europe.”

In addition to its European presence, BitMEX has expanded its operations significantly during the past 12 months. Earlier this month, the crypto firm collaborated with Tokeny for the native exchange token launch.

German Crypto Ecosystem

In terms of GDP, Germany is the biggest economy in the EU region. With the growing popularity of crypto assets, the country has gained the attention of leading players in the global crypto ecosystem. In addition, Germany-based financial institutions have enhanced their crypto-related services. In March 2021, Donner & Reuschel, a private bank headquartered in Hamburg announced its plans to offer digital asset services.

“Germany, as the largest economy in Europe, combines an innovative approach to digital assets with strong regulatory oversight and rule of law, making it a prime market for BitMEX’s expansion in Europe,” Lutz added in the press release.

About the Author: Bilal Jafar
Bilal Jafar
  • 2440 Articles
  • 73 Followers
About the Author: Bilal Jafar
Bilal Jafar holds an MBA in Finance. In a professional career of more than 8 years, Jafar covered the evolution of FX, Cryptocurrencies, and Fintech. He started his career as a financial markets analyst and worked in different positions in the global media sector. Jafar writes about diverse topics within FX, Crypto, and the financial technology market.
  • 2440 Articles
  • 73 Followers

More from the Author

CryptoCurrency

!"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|} !"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|}