- BXM Operations AG signed an acquisition agreement to purchase Bankhaus von der Heydt.
- The company plans to create a One-Stop-Shop in the heart of Europe.
- The final acquisition will be complete after getting approval from Germany’s financial authority.
On January 18, BXM Operations AG, founded by BitMEX CEO Alexander Höptner and CFO Stephan Lutz signed the agreement to acquire Germany’s oldest bank, Bankhaus von der Heydt. The company plans to establish a crypto one-stop-shop in Germany, Austria, and Switzerland.
However, the agreement needed approval from Germany’s financial regulatory authority, BaFin. The owner of the Minich-based bank, Dietrich von Boetticher has already signed an acquisition agreement. The deal is expected to be completed in mid 2022.
The company has not disclosed the details of the amount and transaction of the deal. On the completion of the acquisition, Alexander Höptner and Stephan Lutz will take charge of the bank’s supervisory board.
BitMEX revealed the purpose of acquisition to expand the company’s crypto operation in Europe under regulatory compliance.
The acquisition follows the recent launch of a brokerage service in Switzerland. BitMEX wants to scale up its crypto services for users from Europe.
Alexander Höptner believes that the merge of the digital assets expertise of Bankhaus von der Heydt and innovation skills of BitMEX will help to make better development in the crypto space. He added, “I believe we can create a regulated crypto products powerhouse in the heart of Europe.”
BitMEX is ballooning its crypto services and offerings and to grow its ecosystem, the company has recently launched its native token “BMEX” as well as airdrop for account holders.