Bitcoin Group set to acquire German’s oldest Bank for over $15M

Hull Invest

crypto holding company bitcoin group There was a move to buy Bankhaus von der Heydt, one of the world’s oldest banks, for around $15 million.

Bankhaus von der Heydt was founded in 1754 as a privately owned bank providing banking services for traditional and digital assets. It became the first bank in Germany to offer cryptocurrency trading and custody services to financial institutions and asset managers.

Bitcoin Group announced on December 12 that it has entered into an agreement to acquire Germany-based digital bank. Bitcoin Group will pay around $15 million for his 100% of his 150,000 shares in Bunkhaus when completed in the third quarter of 2023.

In the next phase of the acquisition, the Bitcoin Group will seek banking license approval from Germany’s Federal Financial Supervisory Authority (BaFin).

The Bankhaus acquisition brings Bitcoin Group two banking licenses from Germany following previous acquisitions. future digital bank.

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