The acquisition still requires the approval of BaFin; the transaction is expected to close in mid-2022. The bank, which describes itself as offering blockchain technology applications and banking services for digital assets will remain an independent company even after the completion of the acquisition.
BXM has agreed not to disclose the purchase price and other financial details of the transaction. According to a Bitmex representative, the Bitmex Group is pursuing the goal of building a "one-stop-shop for regulated crypto products" in the DACH region. By combining Bankhaus von der Heydt's regulated crypto asset features and Bitmex's platform, the company can develop a provider for trading regulated crypto products.
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