The cryptocurrency-focused holding Bitcoin Group is considering several companies for acquisition, including the German bank Bankhaus von der Heydt (BVDH). Bloomberg Law reports this.
Representatives of the bank confirmed the talks.
According to agency sources, the deal could be around €20 million ($19.6 million).
Bankhaus von der Heydt, operating since 1754, offered crypto-related services in 2021 in partnership with Fireblocks. Faced with high technology costs and low profitability, management decided to seek a buyer.
The Bitcoin Group comprises Futurum Bank and Sineus Financial Services (50% stake) with a BaFin license. The former operates the crypto-trading platform Bitcoin.de.
Bitcoin Group aims to assemble a portfolio of companies that meet its investors’ requirements in terms of risk diversification and potential returns.
Earlier in January, the BitMEX-affiliated cryptocurrency derivatives company BXM Operations and BVDH signed an agreement to sell the latter.
In March ForkLog reported on its cancellation. The reasons were not specified. Sources did not rule out that BaFin issued an informal signal of dissatisfaction with the BitMEX-linked BXM Operations AG and the Seychelles-registered crypto-derivatives exchange.
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