Peer-to-peer (P2P) crypto trading platform BitMEX is planning to purchase the Munich, Germany, bank Bankhaus von der Heydt, one of the oldest financial institutions in the country, for undisclosed terms, according to a blog post on Tuesday (Jan. 18).
A privately-owned bank, Bankhaus von der Heydt was formed in 1754 and was one of the first regulated institutions in Germany to offer traditional and digital asset banking, securitization and fund services. The bank’s current owner, Dietrich von Boetticher, has signed a purchase agreement with BitMEX. The transaction is anticipated to close by the middle of this year.
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BitMEX was launched in 2014 in Mahé, Beau Vallon, Seychelles, and was co-founded by CEO Alexander Höptner and CFO Stephan Lutz. The P2P crypto trading platform is aiming to establish a one-stop-shop for regulated crypto products in Germany, Austria and Switzerland.
“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,” Höptner said.
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The acquisition of the bank follows the launch of the BitMEX Link brokerage service based in Switzerland that facilitates trading in digital assets. Both moves align with the company’s goal of expanding across Europe and boosting its product development.
Once the deal is finalized, the bank will continue operations as a standalone financial institution, with German business veterans Höptner and Lutz joining its supervisory board.
“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 said.
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