The operator of Germany’s solely regulated cryptocurrency trade has confirmed it would de facto change into a financial institution after securing a 100 p.c takeover of Tremmel Wertpapierhandelsbank.
Bitcoin.de Buys Tremmel Wertpapierhandelsbank
Bitcoin Group SE, which operates Bitcoin.de, will be capable to provide a raft of companies linked with cryptocurrency due to a banking license as soon as the deal goes via.
Frankfurt-based Tremmel has operated as a minor monetary establishment for the reason that early 1980s, with earlier proprietor Rainer Bergmann staying on to contribute to future development and oversee the creation of a “deposit institution,” a press launch confirms.
“We are very pleased that in Tremmel Wertpapierhandelsbank GmbH and in particular Mr. Rainer Bergmann we have been able to gain an excellently positioned partner with in-depth knowledge of the market,” Marco Bodewein, Managing Director of Bitcoin Group SE commented.
This will allow us to take the company growth of Bitcoin Group SE to a brand new degree.
Consumer Adoption Focus
Once the method completes, which is anticipated by Q3 2019, Bitcoin.de will be capable to present companies akin to Bitcoin ATMs.
The proper to supply trade companies, together with by way of such machines, amongst non-banking license holders presently forming a contentious subject in Germany, Bitcoinist lately reported.
The important focus for Bitcoin Group, nonetheless, might be to show Bitcoin.de right into a “cryptocurrency exchange with a multilateral approach.”
“This offers numerous advantages,” the press launch continues.
For instance, it might be doable to take care of an order ebook and even quote costs, which might on the identical time guarantee extra liquid trading.
Bitcoin Group first hinted it might be buying a “regulated bank headquartered in Germany” in May, the most recent transfer additional growing its presence as the one regulated choice within the nation.
As Bitcoinist famous, this stance firmly contrasts with that adopted by its neighbors, with each Switzerland and Austria favoring a constructive regulatory perspective to the cryptocurrency trade.
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