BitMEX plans to buy a bank in Germany

BMX Operations AG is planning to Buy a very old German-based traditional Bank. 

BitMEX is one of the popular crypto and derivatives crypto exchanges. Last year, this exchange pledged to work in more improved and better ways, to sustain the business in the crypto industry for the long run. This exchange entered the crypto industry with its highest 100× leverage system, which helped the exchange to grab huge attention.

BMX Operations AG is a company under the relation of BitMEX crypto exchange. Recently, BitMEX published a blog post regarding the new initiative of BMX operations AG to acquire a German-based very old Bank. 

The bank that BMX Operations AG will acquire is Munich-based bank, Bankhaus von der Heydt. This bank has been giving its services since 1754, which is a clear indication of how much trust this bank has. 

This tweet of BitMEX is indicating that Exchange is planning to integrate the Banking and Crypto services more tightly so that it can bring services at that level, where other exchanges are facing issues because of communication gap between two different authorities (Bank and exchange).

If BitMEX will complete its acquisition of the bank successfully, which is almost possible, then it will be like a surprise gift for the German, Switzerland, and Austria Based crypto users, where they will find huge ease to access their crypto and banking services together. 

Earlier this, BitMEX established a link with a German-based crypto trader broker platform. So the acquisition of this Bank will help BitMEX to expand its services in the EU. 

This deal is under consideration of BaFin. So here BaFin will play an important role in bringing this deal successfully. 

Alexander Höptner and Stephan Lutz will head the Banking business separately. They will be a board member of the board supervisory.

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