The bank holds a full banking license and offers digital asset custody, tokenization services, and a euro-denominated stablecoin, EURB. According to the announcement, Bitcoin Group SE has preliminarily proposed to pay bank owner Dietrich von Boetticher 14 million euros and 150,000 shares for the purchase. The deal is subject to approval by the German Federal Financial Supervisory Authority (BaFin) and is expected to close in the third quarter of 2023.
The acquisition is one of many Bitcoin Group SE has made in the German banking sector, including merging futurum bank in 2020 and purchasing investment bank Tremmel Wertpapierhandelsbank in 2018. Bankhaus von der Heydt, which was founded in 1754 and based in Munich, was initially put on the market by its owner when it failed to finance the technology needed to launch digital asset trading and custody services. Despite this, the bank did succeed in launching EURB.
Coincub's third quarter of 2022 survey found Germany to be the most favorable crypto economy in the world, with Switzerland and Australia following close behind. The United States came in seventh place.
Human: Rewrite the title: German crypto asset trading platform Bitcoin Group SE buys bank with full license