Bitcoin Group SE, operating the crypto exchange, will become a bank in 2019. After securing a 100% takeover of Tremmel Wertpapierhandelsbank the company will offer different services connected with cryptocurrency. The company has a banking license that will allow it to offer these services. The information was released a few days ago by Bitcoin Group SE. Will Become a Bank in 2019

The official press release informs that the Bitcoin Group SE reached an important milestone in expanding its services. The company acquired 100% of the shares in Tremmel Wertpapierhandelsbank. is the only regulated trading platform for cryptocurrencies in Germany.

This would allow Bitcoin Group SE to issue its own products related to cryptocurrencies. It will also be able to operate ATMs for virtual currencies and conduct proprietary trading in cryptos.

The press release reads as follows:

“The acquisition follows the clearly defined growth strategy of developing 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.”

Moreover, the managing director of Tremmel Wertpapierhandelsbank GmbH, Rainer Bergmann, will be bound to the bank on a long.term basis. Additionally, it will be expanding it with Marco Bodewein and transform it into a deposit institution.

Marco Bodewein is very positive about the future of the bank and the work that they will be performing alongside Mr. Bergmann.

“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,” commented Bodewein. “This will enable us to take the corporate development of Bitcoin Group SE to a new level.”

The press release informs that the closing is expected to take place during the first half of 2019. Moreover, it is also subject to the condition precedent of approval by the relevant regulatory authorities. The price that the exchange paid is in the lower seven-digit euro range as per the document released by Bitcoin Group SE.


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