BitMEX to turn German bank into regulated crypto products powerhouse in Europe

Rick Steves

The historic German bank is already a leader in the application of blockchain technology and offers a range of digital assets banking services, including custody, tokenization, efficient payment transactions, and regulatory secure market access.

BXM Operations, a company founded by BitMEX CEO Alexander Höptner and CFO Stephan Lutz, has announced its intention to acquire a German bank in order to create a regulated crypto products powerhouse.

The firm and BitMEX sattelite has agreed to purchase Bankhaus von der Heydt, a bank located in Munich, Germany, im a deal deal that is subject to approval by BaFin. The transaction is expected to be complete in mid-2022.

Once the purchase is finalized, the bank will continue to be operated as a standalone business unit, with Alexander Höptner and Stephan Lutz, both German business veterans, joining its supervisory board.

Bankhaus von der Heydt: one-stop shop for regulated crypto products

Alexander Höptner, Chief Executive Officer of BitMEX, commented: “Through combining the regulated digital assets expertise of Bankhaus von der Heydt with the crypto innovation and scale of BitMEX, I believe we can create a regulated crypto products powerhouse in the heart of Europe.”

Stephan Lutz, Chief Financial Officer at BitMEX, said: “Germany, as the largest economy in Europe, combines an innovative approach to digital assets with strong regulatory oversight and rule of law-making it a prime market for BitMEX’s expansion in Europe.”

By establishing a one-stop shop for regulated crypto products in Germany, Austria, and Switzerland, BitMEX may strengthen its position in Europe.

The historic German bank is already a leader in the application of blockchain technology and offers a range of digital assets banking services. In addition to providing secure custody of crypto assets, Bankhaus von der Heydt offers solutions for tokenization, enabling efficient payment transactions, and providing regulatory secure market access.

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Next steps in BitMEX’s European expansion and product development

The acquisition of Bankhaus von der Heydt is now the next step in the Group’s European expansion and product development.

The crypto exchange has appointed several executives as part of an ongoing reshuffle amid the revamped mission of the cryptocurrency specialist, which includes several new business lines.

The upcoming business segments are Spot, Brokerage, Custody, Information Products, and Academy, and will be added to the BitMEX operation in line with the ‘beyond derivatives’ strategy.

To that effect, BitMEX appointed Raphael Polansky as Chief Operating Officer (COO) and Marcus Hughes as Chief Risk Officer (CRO) last week.

Rupertus Rothenhaeuser was hired as the firm’s Chief Commercial Officer (CCO) to spearhead the crypto exchange’s ‘Beyond Derivatives’ strategy, the firm’s plan to expand into spot, brokerage, custody, information products, and establish the BitMEX Academy.

Rupertus Rothenhaeuser will be in charge of developing the exchange’s global client relationships, overseeing the commercial success of its expanding range of products, and growing BitMEX’s market share in the hyper-competitive crypto space.

Ivo Sauter was appointed to lead Switzerland-based BitMEX Link and its mission to bring about spot, structured products, and OTC trading.

 

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