Bitcoin Group SE completes merger of Bitcoin Deutschland AG with futurum bank AG into Germany´s first crypto bank
● Merger of Bitcoin Deutschland AG with futurum bank AG registered in the commercial register
● Combined Entity to operate under the name of futurum bank AG
● Cryptotrading and custody under the umbrella of futurum bank AG from a single source
● High synergy effects at organizational level
● New growth impetus from institutional clients
Herford, October 22, 2020 – Bitcoin Group SE (ISIN DE000A1TNV91) has closed the merger of Bitcoin Deutschland AG with futurum bank AG. Germany´s first crypto bank results from the unification of the crypto business division bitcoin.de and the entire Investment Banking services of futurum bank AG. After the successful registry in the commercial register on 13 October 2020, the combined entity will operate under the name futurum bank AG. The integration measure is thus completed also on the corporate law level.
After the merger has been completed futurum bank AG now bundles all regulatory licensed assets held in the Group under one entity that has already been licensed under regulatory law. This results in high synergy effects within Bitcoin Group SE by reducing organizational and regulatory complexity. Furthermore, this measure strengthens Bitcoin Group SE's offering as a cryptocurrency trading platform, and depository. futurum bank AG can offer customers an even better service from a single source.
This marks a further significant step in diversifying the business model. The BaFin has established a unified legal framework for banks to offer and store cryptocurrencies. Bitcoin Group SE also makes use of this possibility and extends the provision of cryptocustody services to the entire Group of companies. In the future, Europe's largest crypto trading platform will also be available to institutional customers via futurum bank AG. The new customer base opens up new value-adding growth prospects for Bitcoin Group SE.
“Market participants, both private and institutional, are looking for profitable investment opportunities outside the Euro and US Dollar & Co. Cryptocurrencies are much appreciated for their high returns and safety features. Our reliable and attractive service portfolio, which is already used by more than 884,000 private customers, will in future also be open to institutional investors via the newly formed futurum bank AG. We expect that this will result in significant growth impulses for Bitcoin Group SE,” says Marco Bodewein, Managing Director of Bitcoin Group SE.