This Tuesday, crypto exchange BitMEX revealed its plans to purchase one of the oldest banks in Germany and perhaps all of Europe, Bankhaus von der Heydt, in the hopes of creating a single regulated crypto entity in Switzerland, Austria, and Germany.
While the official purchase isn’t still finalized, reports say that the owner of the German bank in question, Dietrich von Boetticher, had already signed the purchase agreement alongside BitMEX. The only thing that hinders the acquisition from moving forward is the official approval of the German financial services regulatory authority, the BaFin.
The deal’s particulars are also clouded in mystery as of press time. This is because the parties involved have purportedly mutually agreed not to disclose any financial information related to the impending transaction. Nevertheless, BitMEX expects the acquisition to finalize within the Q2 or Q3 of 2022.
As significant as it may be for a crypto exchange to officially purchase one of Europe’s most recognizable and oldest banks, this isn’t the first time BitMEX tried to make waves within the European market. Before this particular development, the exchange announced its plans to establish a 24/7 crypto brokerage platform for traders and institutions alike in Switzerland, the BitMEX Link.
As of press time, the Switzerland-based service platform is still in development and is currently hiring several people.