Bitcoin Group SE has reached an important milestone in the expansion of its own service portfolio and today acquired 100% of the shares in Tremmel Wertpapierhandelsbank GmbH.
The acquisition will significantly expand the services offered by Bitcoin Group SE, which operates Bitcoin.de, Germany's only regulated trading venue for digital currencies. For example, Bitcoin Group SE's ability to issue its own cryptocurrency products, carry out proprietary trading in cryptocurrencies, and operate cryptocurrency ATMs is now available under the securities service provider's banking license. The acquisition follows the clearly defined growth strategy of expanding Bitcoin.de into a cryptocurrency exchange with a multilateral approach. This offers numerous advantages. This would make it possible to keep an order book and to quote prices, which at the same time guarantees more liquid trading.
The former sole shareholder and managing director of Tremmel Wertpapierhandelsbank GmbH, Mr. Rainer Bergmann, will be bound to the bank on a long-term basis and will expand it together with Mr. Marco Bodewein to the deposit institute.
"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.
The purchase price is in the lower seven-digit euro range. The closing is scheduled for the first half of 2019 and is subject to the condition precedent of approval by the relevant regulatory authorities.