Bitcoin Group to buy Germany’s Bankhaus von der Heydt
Bitcoin Group SE, a German investment firm focusing on cryptocurrency and blockchain technology, has agreed to acquire 100% of Bankhaus von der Heydt.
Bitcoin Group SE to buy Germany’s Bankhaus von der Heydt
According to the terms of the transaction, the purchase price consists of a cash payment amounting to €14 million, which could be “modified” depending on the developments in the equity of the bank, along with 150,000 shares.
The deal is subject to approval from the German Federal Financial Supervisory Authority (BaFin) and is expected to close in Q3 2023.
Established in 1754, Bankhaus von der Heydt is one of Germany’s oldest banks with a history spanning more than 250 years.
Headquartered in Munich with offices in Luxembourg, the bank offers traditional banking, digital banking, securitisation and fund services.
Bitcoin Group says the acquisition will enable it to have access to the full banking licence held by Bankhaus von der Heydt, as well as its offerings of custody and tokenisation of digital assets in Germany.
