Germany’s Bitcoin Group SE All Set to Procure 100% Share in Tremmel Investment Bank
As per various trusted media outlets, Bitcoin Group SE has recently acquired a 100% share in German investment institution ‘Tremmel’. With that being said, it is still not clear as to how much money was involved in this deal or when the official paperwork was actually signed.
About The Firm
Bitcoin Group SE is based out of Herford, Germany and is known to run the nation’s only regulated crypto exchange called “Bitcoin Deutschland AG” (it is often referred to by its Bitcoin.de domain name). Additionally, It is also worth mentioning that since its Tremmel buy-out, Bitcoin SE is now looking to focus more and more on securities trading since the company views it as one of the most exciting financial areas’ within this burgeoning market sector.
According to a press release issued by Bitcoin Group SE, the firm has stated that it now intends on using Tremmel’s banking licenses to “majorly expand” its alt-coin offerings as well as to establish new crypto-ATM’s all across Germany.
In this regard, an official company statement reads:
“[…]issue its own cryptocurrency products, carry out proprietary trading in cryptocurrencies, and operate cryptocurrency ATMs is now available under the securities service provider's banking license.”
More On The Matter
As things stand, it is being said that Rainer Bergmann, Tremmel’s current managing director, will continue to have control over the banks’ day to day activities as well as its financial operations. Not only that, Bergmann has also been tasked with the responsibility of expanding Tremmel’s existing monetary offerings so as to lure in more crypto enthusiasts in the near future.
Lastly, it is being estimated that all of the finer details regarding this deal will be sorted out by the early stages of 2019. Also, if certain “independent sources” are to be believed, the Tremmel buyout was executed for a “seven-digit euro” sum.
While the regulatory environment in Germany (at the moment) is quite strict in relation to Bitcoin and other similar digital currencies, it is worth noting that last month, the European powerhouse saw the setting up of it’s first Bitcoin ATM in Munich. If that wasn't enough, it is also being rumoured that Canadian holding firm GoverMedia Plus Canada is looking to buy-out U.K. based crypto exchange EXMO (with both of the financial entities having signed an initial MOU just a few of days back).