Bitcoin group SE, operating the crypto exchange Bitcoin.de, is about to become a bank in 2019.

After securing a 1000th takeover of Tremmel Wertpapierhandelsbank, the Firm is going to supply numerous services connected with cryptocurrency. the Firm incorporates a banking license which will enable it to supply these services.

Official handout

Bitcoin.de is the solely regulated trading platform for cryptocurrencies in Germany. Once the method is completed, by Q3 2019, Bitcoin.de will be ready to give services like Bitcoin ATMs. The announcement stated:

“The acquisition follows the clearly outlined growth strategy of developing Bitcoin.de into a cryptocurrency exchange with a multilateral approach. This offers various benefits. for instance, it'd be potential to take care of an order book and even quote costs, which might at the same time guarantee a lot of liquid trading.”

Moreover, the MD of Tremmel Wertpapierhandelsbank GmbH, Rainer Bergmann, are certain to the bank on a long-run basis. what is more, Rainer can expand the campaign with Marco Bodewein and rework it into a deposit establishment.

Marco Bodewein is, reportedly, wanting forward to operating alongside Mr. Bergmann.

Bodewein commented –

“We are very happy that in Tremmel Wertpapierhandelsbank GmbH and specifically Mr. Rainer Bergmann, we've been ready to gain an excellently positioned partner with in-depth knowledge of the market”

The announcement states that the growth of business with Bodewein is anticipated to require place throughout the first half 2019. Moreover, the statement is additionally subject to the condition precedent of approval by the relevant regulative authorities. the value that the exchange paid is within the lower seven-digit euro range as per the document released by Bitcoin group SE.

Neighboring countries are following a contrastive path. both Switzerland and Austria have opted for a constructive regulatory approach to the crypto trade.

Is it time for banks and crypto-exchanges to bond?

Without cooperation between exchanges and banks, crypto and blockchain technology products cannot become mainstream. For cryptocurrencies and blockchain technology to remodel the world economy, banks and monetary establishments must adopt the trade.

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