When Crypto Buys Banks – The platform specializing in cryptocurrency derivatives, BitMEX, has come a long way. The crypto-stock exchange, then prosecuted, had thus granted a large check for 100 million dollars to the CFTC in August 2021. Since then, the situation has clearly recovered, since the exchange counts – downright – take control of a German bank.
BitMEX takes the bank by storm Bankhaus von der Heydt
And to think that a little less than a year ago, Arthur Hayes (ex-CEO) and several former executives of BitMEX were actively sought by American justice… The current good health of the crypto platform thus seems to be a miracle, of the type resurrection.
We learn, in fact, in a press release published on January 18, 2022, that BXM Operations AG, a company founded by the CEO of BitMEX, Alexander Hoptner, intends to buy the bank Bankhaus von der Heydt (BVDH).
The latter, based in Munich, is one of the oldest German banks, since its foundation dates back to 1754. However, the bank perfectly knew how to take the turn of modernity, since she had been a pioneer in issue a euro stablecoin with the help of Bitbond.
BXM Operations and the current owner of BVDH have already signed a purchase agreement, but the latter must still wait for theapproval regulation of the BaFin (the German financial policeman). The finalization of this acquisition is thus hoped for mid-2022.
>> Sign up on BitMEX and get $10+ BMEX cryptocurrencies <<
BitMEX now wants to be a model of obedience to regulations
Long gone are the days when BitMEX offered margin trading with insane leverage effects (and extremely dangerous) going as far as x100 – especially in the market with strong volatility cryptocurrencies.
If the new leader of BitMEX now wants to buy this German bank, it is for the better to integrate its crypto-exchange within the financial regulations Europeans.
“By combining Bankhaus von der Heydt’s expertise in regulated digital assets, with innovation in [marché] crypto from BitMEX, I believe we can create a commodity powerhouse [dérivés] regulated cryptos right in the heart of Europe. »
Alexander Hoptner
Besides theGermany, this purchase would allow the exchange to also open up to the traditional financial markets of theAustria and some Swiss, before expanding across Europe.
After a more than difficult first half of 2021, BitMEX now seems to be back in surprisingly great shape. Another proof of this good health: last month, the crypto-stock exchange announced the launch of its own token, the BMEX.
>> Sign up on BitMEX and get $10+ BMEX cryptocurrencies <<