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 Bitcoin.de, 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 Bitcoin.de 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 Bitcoin.de, 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.

Source:

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