Crypto Holding Company bitcoin group has moved to buy one of the world’s oldest banks, Bankhaus von der Heydt, for approximately $15 million.
Bankhaus von der Heydt was founded in 1754 as a privately owned bank offering traditional and digital asset banking. It became the first bank in Germany to offer cryptocurrency trading and custody services for financial institutions and asset managers.
Bitcoin Group announced on December 12 that it had signed an agreement to acquire the Germany-based digital bank. Bitcoin Group will pay around $15 million for 100% of Bankhaus’ 150,000 shares upon completion in Q3 2023,
In the next phase of the acquisition, Bitcoin Group will obtain approval from Germany’s Federal Financial Supervisory Authority (BaFin) for the banking license.
The Bankhaus acquisition will see Bitcoin Group hold two German banking licenses, following its previous acquisition of the future digital bank
