Bitcoin Group Rumoured to be Partaking in Mulitple Takeover Negotiations

Bitcoin Group SE is rumoured to have been participating in takeover negotiations with a number of potential corporations which are concerned in deposit-taking or credit score establishments from Germany.

The 268-year-old German financial institution Bankhaus von der Heydt is reportedly amongst their targets. Munich-based Bankhaus von der Heydt has had a tough patch with its strikes into cryptocurrencies and digital belongings, folks conversant in the matter mentioned.

Bankhaus von der Heydt had earlier tried to promote itself to crypto-derivatives alternate BitMEX in March this yr, nonetheless, the deal fell by because it was topic to the approval of German monetary regulator BaFin, and since then, it has been on the lookout for a possible purchaser.

The folks conversant in the matter mentioned that the sale might worth the financial institution at about $19.6 million, in line with Bloomberg.

Whereas in October final yr, Bankhaus von der Heydt partnered with Fireblocks to broaden its choices of digital asset banking, securitization and fund companies to its shoppers

Fireblocks has been supporting Bankhaus von der Heydt to leverage its custody companies alongside the Fireblocks Community to broaden digital asset and crypto merchandise to its clients.

As of now, all potential acquisition actions – together with Bankhaus von der Heydt – are nonetheless beneath the evaluate course of. Numerous authorized, regulatory and monetary points nonetheless require evaluation.

Bitcoin Group is a Germany-based crypto and blockchain enterprise capitalist agency.

The agency primarily focuses on the shopping for, promoting and administration of investments in varied corporations. Additionally they have interaction within the acquisition of strategic administration, management and coordination of those corporations. Bitcoin Group at present owns futurum financial institution AG amongst many different belongings.

Futurum financial institution AG operates Germany’s solely regulated market for the digital foreign money Bitcoin, Bitcoin Money, Bitcoin Gold, Ethereum and Litecoin beneath Whereas it additionally owns 50% of the shares in Sineus Monetary Providers GmbH, a monetary companies supplier supervised by BaFin.

Though not a lot data has been launched about Bitcoin Group SE’s takeover plans, it is a growing story and extra is but to be revealed.

Picture supply: Shutterstock

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