According to a recent BitMEX blog article, BXM Operations AG, a subsidiary of the BitMEX crypto exchange, has declared its intentions to buy Bank Bankhaus von der Heydt in Munich, one of Germany’s oldest banks. Since 1754, the bank has been in business.
The purpose of this acquisition is to ensure that regulated and authorised crypto products are available in Germany, Switzerland, and Austria as soon as possible. Once this is accomplished, BitMEX Group has the potential to become a major crypto player and service provider in Europe.
The acquisition is currently being evaluated by BaFin, the German financial regulator.
Prior to this, the business established a BitMEX connection in Switzerland, which is a platform that allows for bitcoin asset brokerage trading. The forthcoming acquisition of the aforementioned German bank will be the company’s next move in its European growth.
