Bitcoin Group SE expands! Acquires Tremmel Wertpapierhandelsbank GmbH

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On November 12, 2018, Bitcoin Group SE has acquired 100% of Tremmel Wertpapierhandelsbank GmbH shares. That is an essential accomplishment of Bitcoin Group SE as they are expanding, even more, this year. 

“The acquisition will significantly expand the range of services offered by Bitcoin Group SE, which operates, Germany’s only regulated trading platform for digital currencies,” says in the official announcement.

A huge benefit for Germany’s crypto-scene

That will allow Bitcoin Group SE to issue their cryptocurrency-related products, conduct proprietary trading and produce ATMs for cryptocurrencies. All this, thanks to the banking license of Tremmel. So far, the strategy of becoming a multilateral cryptocurrency exchange is succeeding. This acquisition will bring significant advantages like the possibility to maintain an order book and even quote prices.

“We are very pleased that in Tremmel Wertpapierhandelsbank GmbH and in particular Mr. Rainer Bergmann we have been able to gain an excellently positioned partner with in-depth knowledge of the market. This will enable us to take the corporate development of Bitcoin Group SE to a new level,” says Marco Bodewein, Managing Director of Bitcoin Group SE.

Moreover, the purchase price hasn’t yet been disclosed. However, it is known that it is in the lower seven-digit euro range.

Who are they?

Tremmel Wertpapierhandelsbank GmbH is a German investment bank which handles securities, bonds, and stock exchange trading services to institutional clients. It was created in 1983 and is licensed by the Federal Financial Supervisory Authority, or BaFin, Germany’s financial watchdog, as an investment service provider.

Bitcoin Group SE is a holding company focusing on innovative and disruptive business models and technologies in the areas of Cryptocurrency and Blockchain. The company holds 100% of the shares in Bitcoin Deutschland AG, which operates Germany’s only regulated marketplace for the digital currency Bitcoin (BTC), Bitcoin Cash (BCH) and Ethereum (ETH) under, as well as a 50% holding in Sineus Financial Services GmbH, a financial services provider supervised by BaFin.

The Output

This reminds me of the good old saying I saw on Twitter one day, it went something like this: “I once thought that banks are going to buy out cryptocurrency companies, but now Crypto companies are buying banks!”

So far, this has been a well-known praxis, since more and more crypto-related companies are acquiring traditional banks and their licenses. Bitcoin Group SE bought a 50% share in financial investment broker Sineus Financial Services Gmbh, to diversify risk. “In the future, this will enable the group to offer additional financial services in the cryptocurrency sector,” the company explained.

It looks like Germany has a bright future for cryptocurrency development coming up. Bitcoin Group SE now can put a Bitcoin ATM on every corner of every street in Germany. Besides that, the company now has acquired all the necessary licenses to fulfill their corporate business strategy.


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Litecoin and TokenPay announced a strategic partnership

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Recently, TokenPay had announced its partnership with WEG Bank in Germany. TokenPay acquired 9.9% of the bank along with options to purchase approximately 90% overall of the bank pending the customary regulatory approval. In July 10, these 9.9% were transacted further to the benefit of Litecoin Foundation. This was done in exchange for a broad and comprehensive marketing and technology service agreement to benefit TokenPay and its related cryptocurrency and business operations. As a result of this partnership, TokenPay and Litecoin combine as a leading force in creating and delivering to the market modern consumer-driven crypto FinTech solutions.

Specifically, TokenPay will directly benefit from Litecoin’s high-level blockchain mechanization capabilities.

After these 9.9% got transacted to Litecoin Foundation, TokenPay obtained another 9.9% of WEG Bank. Under German banking law no entity can own more than 9.9% of a bank without regulatory approval. TokenPay has plans of acquiring the remaining shares the bank.

“This partnership is a huge win-win for both Litecoin and TokenPay. I’m looking forward to integrating Litecoin with the WEG Bank AG and all the various services it has to offer, to make it simple for anyone to buy and use Litecoin. I’m also excited about Litecoin’s support in TokenPay’s eFin decentralized exchange”, said the Managing Director of Litecoin Foundation Charlie Lee.

He also said that thanks to this partnership, they plan to work on many exciting consumer-driven crypto solutions.

Under Charlie Lee’s twitter thread a discussion has evolved about TokenPay having an ongoing close partnership with Verge. Daniel Goldman (@Dzack23) pointed out the fact that TokenPay and Verge is constantly hyping about each other. Since Verge had a 51% attack, and the transactions were compromised, it is believed that it is a “messy” crypto-project. And now Verge is hyping about Litecoin Foundation’s involvement which raised suspicion.


Germany doesn’t see cryptocurrency as a threat to financial stability

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Today on June 12th, the German Federal Government stated that cryptocurrencies are not a threat to the financial stability, says Cointelegraph auf Deutsch. However, the government feel the need for a regulation to control cryptocurrencies. Crypto asset transactions are too low compared to the global financial system to create a serious threat for stability. 

Lately we see a lot of posts about the position of a specific country towards cryptocurrencies. All this is the outcome of the G-20 summit, which occurred in March. In conclusion, the members of the summit agreed on a strict July deadline, when all the countries should present their recommendations to regulations of cryptocurrencies. 

Germany has already implanted a few regulations regards cryptocurrencies. For example, German-based crypto-traders must follow the same anti-money laundering regulations as other financial service providers. And when it comes to commercial trade of cryptocurrency – a permission from the Federal Financial Supervisory Authority is needed.

“Rather, there is a need for coordinated action at European and international level. The Federal Government is, therefore, pressing for a harmonized handling of crypto-tokens at this both levels”, accentuated the government.

According to the government, this evaluation of cryptocurrencies is shared within the G-20 countries. 

Source:– Cointelegraph about Germany– Cointelegraph about G-20

Photo by Wikimedia Commons