Bitcoin Group SE acquires Tremmel Wertpapierhandelsbank GmbH and significantly expands its own service portfolio
- Acquisition of all shares in Tremmel Wertpapierhandelsbank GmbH
- Important milestone reached on the way to the cryptocurrency exchange
- Purchase price in the lower seven-digit euro range
Herford, 12 November 2018 – Bitcoin Group SE (ISIN DE000A1TNV91) has reached an important milestone in the expansion of its own service portfolio and acquired 100% of the shares in Tremmel Wertpapierhandelsbank GmbH as of today.
The acquisition will significantly expand the range of services offered by Bitcoin Group SE, which operates Bitcoin.de, Germany's only regulated trading platform for digital currencies. As a result, Bitcoin Group SE will be able to issue its own products in connection with cryptocurrencies, conduct proprietary trading in cryptocurrencies and operate ATMs for cryptocurrencies thanks to the banking license of the investment service provider. The acquisition follows the clearly defined growth strategy of developing Bitcoin.de into a cryptocurrency exchange with a multilateral approach. This offers numerous advantages. For example, it would be possible to maintain an order book and even quote prices, which would at the same time ensure more liquid trading.
The previous sole shareholder and managing director of Tremmel Wertpapierhandelsbank GmbH, Mr. Rainer Bergmann, will be bound to the bank on a long-term basis and will expand it together with Mr. Marco Bodewein into a deposit institution.
"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. This will enable us to take the corporate development of Bitcoin Group SE to a new level," says Marco Bodewein, Managing Director of Bitcoin Group SE.
The purchase price is in the lower seven-digit euro range. The closing is expected to take place in the first half of 2019 and is subject to the condition precedent of approval by the relevant regulatory authorities.