German Regulated Crypto Exchange Acquires 100% of Investment Bank Tremmel

German Regulated Crypto Exchange Acquires 100% of Investment Bank Tremmel

Bitcoin Group SE, which operates, Germany’s only regulated exchange for digital currencies, acquired 100% of the shares in Tremmel Wertpapierhandelsbank GmbH, a German investment bank, as announced in a press release from 12 November. Upon acquisition of the banking institution, the crypto holding will in turn obtain the right to use Tremmel’s banking license. The purchase price is in the lower seven-digit euro range and the closing is scheduled for the first half of 2019, as it is subject to the approval of regulatory authorities.

The acquisition will significantly expand the services offered by Bitcoin Group SE, like the ability to issue its own cryptocurrency products, carry out proprietary trading in cryptocurrencies, and operate cryptocurrency ATMs under the securities service provider’s banking license. The acquisition follows the clearly defined growth strategy of expanding into a cryptocurrency exchange with a multilateral approach.

“We are very pleased to have found Tremmel Wertpapierhandelsbank GmbH, and in particular Mr. Rainer Bergmann, a well-positioned partner with deep market knowledge, which 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.

Bitcoin Group SE is a holding company focused on innovative and disruptive business models and technologies in the cryptocurrency and blockchain sectors. It is listed on the primary market of the Dusseldorf Stock Exchange and on the Frankfurt Stock Exchange (stock symbol: ADE, ISIN: DE000A1TNV91, WKN: A1TNV9).

Tremmel Wertpapierhandelsbank GmbH is an investment bank that focuses on securities trading. Tremmel’s Managing Director, Rainer Bergmann, will continue to be responsible for the bank and for expanding it into a custodian bank together with Bitcoin Group SE.

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