BitMEX, the leading cryptocurrency trading platform has signed a purchase agreement to buy the German bank Bankhaus von der Heydt on Tuesday and is waiting for the green light of German regulators.
In a statement sent to Bitcoin Magazine they said “ BitMEX Group is pursuing the ambitious goal of establishing a one-stop-shop for regulated crypto products in Germany, Austria and Switzerland, and thus becoming a strong player in Europe – in addition to the Group’s global ambitions.”
The deal was signed and is expected to be completed by the middle of 2022, but the details of it have not yet been provided as both parties agreed to not disclose any financial information of the transaction.
CFO Stephan Lutz, one of the signing parties, said in a statement :
“ 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.”
“ 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 regulatory crypto products powerhouse in the heart of Europe.” – said CEO Alexander Hoptner in a statement.
This is not the first move to European market from BitMEX, as they have recently announced BitMEX Link, a Switzerland- based service currently under development that promises 24/7 cryptocurrency brokerage for traders, institutions, pro traders, joining spot and OTC in one place.