Crypto company BitMEX makes bid for one of Germany’s oldest banks
BitMEX has announced plans to snap up Germany’s 268-year-old Bankhaus von der Heydt to create a digital assets ‘powerhouse’ in Europe.
BitMEX Group has ambitions to transform the bank into a one-stop shop for regulated crypto products in Germany, Austria, and Switzerland, with a view to becoming a key player in the European digital assets market. The audacious bid comes after the crypto company set up a brokerage service based in Switzerland that facilitates trading in crypto.
Commenting on the planned purchase, BitMEX chief executive Alexander 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.”
Co-founder and chief financial officer Stephan Lutz also commented on the bid. He said: “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.”
BitMEX and Bankhaus’ current owner Dietrich von Boetticher have agreed not to disclose the purchase price or other financial details of the transaction.
Once the purchase is finalised, which will require approval from the German financial regulator BaFin, the bank will continue to operate as a standalone business unit, with BitMEX co-founders Höptner and Lutz joining its supervisory board.
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