BXM Operations AG, a company founded by BitMEX CEO Alexander H ptner and CFO Stephan Lutz, has announced plans to buy Bankhaus von der Heydt, a bank in Munich, Germany, and one of Germany's oldest banks. Bankhaus von der Heydt has been in operation since 1754, and the website of the company is at 1754.
The deal is subject to approval by the German financial services regulatory authority BaFin. It is closely related to BitMEX, as the CEO and CFO of BXM Operations AG is not the same company as BitMEX. According to the blog post that the deal was made, the purpose is to establish a one-stop shop for regulated products in Germany, Austria, and Switzerland. Not the bank's first criptocurrency deal.
The announcement was followed by the launch of BitMEX Link in Europe, a brokerage service in Switzerland that facilitates trading in digital assets. The acquisition of Bankhaus von der Heydt is now the next step in the Group's European expansion and product development. This is not Bankhaus von der Heydt's first encounter with cryptocurrencies. In mid-October of last year, the bank announced a partnership with Coindex GmbH, a German platform that offers index-based investment and savings plans in cryptocurrencies to enable the bank to offer its customers criptocurrency trading and custody services.
In October, Bankhaus von der Heydt entered a partnership with Fireblocks to expand its offerings of digital asset banking, securitization and fund services, and in December 2020 Bankhaus von der Heydt partnered with Bitbond to issue the first euro stable coin EURB on the Stellar network.
BXM Operations AG and Bankhaus von der Heydt's current owner, Dietrich von Boetticher, have signed a purchase agreement that will only be completed with BaFin's approval. The transaction is expected to be completed in mid- 2022.
BXM Operations AG and Mr. von Boetticher have agreed not to reveal the purchase price or other financial details of the transaction. The bank will continue to be operated as a standalone business unit after the purchase is completed, with Alexander H ptner and Stephan Lutz joining its supervisory board.