Bitcoin.de buys German bank to expand its service portfolio

The only cryptocurrency exchange with license in Germany, Bitcoin.de, has just acquired the total shares of Tremmel bank Wertpapierhandelsbank GmbH. The commercial transaction aims to extend the range of services to customers.

Bitcoin.de expects to use the license of the bank as a means of expansion in the financial market. Spokespeople of Bitcoin Group SE indicated that from the purchase the trading platform will maintain a book of orders “and even an instantaneous price quote, at the same time guaranteeing that all operations are more liquid”.

Benefits are foreseen for both companies involved, such as the increase in the number of clients in both the traditional and the cryptocurrency sectors. In addition, the Bitcoin Group SE may issue its own digital currency products, conduct property transactions and operate ATMs in these assets.

Procedures to complete the purchase of the bank could end during the first quarter of next year, according to the approval of the German regulatory bodies. In any case, “the bank, which trades shares, bonds and other products of the stock exchange on behalf of local and foreign banks, insurance companies and asset managers, will expand to an institution that takes deposits,” they said from the Bitcoin Group SE.

Undoubtedly, the transaction is the first step for the restructuring of the two companies in German territory, under the premise of expanding the exchange of cryptocurrencies together with the traditional banking system.

M.Pino

Source: Bitcoin.es

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