BXM Operations AG, part of the BitMEX Group, announced the purchase of one of the oldest European banks – Bankhaus von der Heydt. The deal is being approved by the German regulator.
BXM Operations AG was founded by BitMEX cryptocurrency derivatives exchange CEO Alexander Hoptner and CFO Stephan Lutz. After the takeover of Bankhaus von der Heydt, the company will become “a one-stop shop for regulated crypto products in Germany, Austria and Switzerland.” The management of the site hopes that the acquisition of the bank will lead the company to take a leading position in the market.
“I think that thanks to Bankhaus von der Heydt’s experience with regulated digital assets and the innovation and scale of BitMEX, we will be able to create a strong center for regulated crypto products in the heart of Europe,” said Alexander Höptner.
The Bankhaus von der Heydt started operating in 1754. At the same time, in recent years, the management of the organization has paid close attention to the digital asset industry. For example, back in 2020, the bank launched the euro-pegged stablecoin EURB on the Stellar blockchain. The acquisition of Bankhaus von der Heydt is expected to be completed by the middle of the year. The amount of the transaction is not disclosed. At the same time, the bank will continue to function as a division of BXM Operations AG.
At the end of last year, the BitMEX exchange announced the launch of its own BMEX token. Token holders will receive discounts on trading operations and increased profitability from the exchange products.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
