BitMEX to turn a German bank into a powerhouse for regulated crypto products in Europe

The historic German bank is already a leader in the application of blockchain technology and offers a range of digital asset banking services, including custody, tokenization, efficient payment transactions and secure regulatory market access.

BXM Operations, a company founded by BitMEX CEO Alexander Höptner and CFO Stephan Lutz, has announced plans to acquire a German bank to create a powerhouse of regulated crypto products.

The company and satellite BitMEX have agreed to buy Bankhaus von der Heydt, a bank located in Munich, Germany, in a deal subject to BaFin approval. The transaction is expected to be finalized in mid-2022.

Once the purchase is complete, the bank will continue to operate as an autonomous business unit, with Alexander Höptner and Stephan Lutz, both German business veterans, joining its supervisory board.

Alexander Höptner, Managing Director of BitMEX, said: “By combining the regulated digital asset expertise of Bankhaus von der Heydt with the crypto innovation and scale of BitMEX, I believe we can create a powerhouse of crypto products. regulated in the heart of Europe.

Stephan Lutz, CFO of BitMEX, said: “Germany, as Europe’s largest economy, combines an innovative approach to digital assets with strong regulatory oversight and rule of law, making it a market of choice for the expansion of BitMEX in Europe.”

By establishing a one-stop-shop for regulated crypto products in Germany, Austria, and Switzerland, BitMEX could strengthen its position in Europe.

The historic German bank is already a leader in the application of blockchain technology and offers a range of digital asset banking services. In addition to providing secure custody of crypto assets, Bankhaus von der Heydt offers tokenization solutions, enabling efficient payment transactions and providing secure regulatory access to the market.

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The acquisition of Bankhaus von der Heydt is now the next step in the group’s European expansion and product development.

The crypto exchange has named several executives as part of an ongoing shakeup amid the cryptocurrency specialist’s revamped mission, which includes several new business lines.

Upcoming trading segments are Spot, Brokerage, Custody, Information Products and Academy, and will be added to the BitMEX operation in line with the “beyond derivatives” strategy.

To that effect, BitMEX appointed Raphael Polansky as Chief Operating Officer (COO) and Marcus Hughes as Chief Risk Officer (CRO) last week.

Rupertus Rothenhaeuser has been hired as the company’s Chief Commercial Officer (CCO) to lead the crypto exchange’s “Beyond Derivatives” strategy, the company’s plan to expand into spot, brokerage, custody, information and to create the BitMEX Academy.

Rupertus Rothenhaeuser will be responsible for developing the exchange’s global client relationships, overseeing the commercial success of its growing product line, and growing BitMEX’s market share in the hyper-competitive crypto space.

Ivo Sauter has been appointed to lead Switzerland-based BitMEX Link and its mission to create spot products, structured products and OTC transactions.

Mary I. Bruner