DGAP-News: Bitcoin Group SE / Key word(s): Merger
Bitcoin Group SE decides to merge Bitcoin Deutschland AG with futurum bank AG
– Merger of Bitcoin Deutschland AG into futurum bank AG resolved
– Cryptotrading and custody for retail and institutional customers from a single unit
– High synergy effects at organizational level
– New growth impetus from institutional clients
– Unification forms Germany’s first “crypto bank”
Herford, 24 August 2020 – Bitcoin Group SE (ISIN DE000A1TNV91) has decided to merge Bitcoin Deutschland AG with futurum bank AG, its two wholly owned subsidiaries. In the course of the merger, Bitcoin Deutschland AG will be integrated into futurum bank AG and futurum bank AG will become the legal successor of Bitcoin Deutschland AG. This integration measure will enable Bitcoin Group SE to strengthen the Group’s offering as a cryptocurrency trading platform and depository and to offer its customers an even better service from a single unit.
Within the framework of the Act on the Implementation of the Amending Directive to the Fourth EU Money Laundering Directive, BaFin created a uniform legal framework when the Act came into force on January 1, 2020, enabling banks to offer crypto depository. As a result of the merger, Bitcoin Group SE is bundling the regulatory licenses held in the Group under a unit already licensed under regulatory law. At the same time, the reduction of organizational and regulatory complexity results in high synergy effects and considerable cost savings.
The aim is to make the crypto marketplace accessible to institutional and corporate customers in the future. The unification of the crypto business bitcoin.de and the Investment Banking services of the futurum bank AG forms Germany’s first “crypto bank”. This is accompanied by the opening of Europe’s largest crypto trading platform for institutional clients via futurum bank AG. This measure opens up a new customer base for Bitcoin Group SE and thus additional sales potential beyond the existing business.
“The interest in crypto assets has once again gained considerable momentum due to the Covid-19 pandemic. In addition, the interest of institutional investors is also increasing steadily. Also in view of the recently published draft bill for the introduction of electronically deposited securities and the crypto-custody already enshrined in law. As a pioneer in the crypto-scene we are pushing ahead with the merger to create the organizational conditions that will enable us to benefit from these developments. We are confident that we will be able to generate new, additional growth impulses for Bitcoin Group SE in our business with institutional customers,” says Marco Bodewein, Managing Director of Bitcoin Group SE and Member of the Board of futurum bank AG.
With the merger becoming legally effective by entry in the commercial register, which is expected to take place in October, Michael Nowak, the current Managing Director of Bitcoin Deutschland AG, and Per Hlawatschek, the current CIO of the Group, will be appointed as new members of the Managing Board of futurum bank AG. Both appointments are subject to the approval of the financial supervisory authorities. The founder and CEO of Bitcoin Deutschland AG and CEO of the majority shareholder Priority AG, Oliver Flaskämper, will leave his position with the legal force of the merger and will in future act as a consultant for the strategic business development.
About Bitcoin Group SE:
Bitcoin Group SE is a holding company focusing on innovative and disruptive business models and technologies in the areas of Cryptocurrency and Blockchain. Bitcoin Group SE holds 100% of the shares in Bitcoin Deutschland AG, which operates Germany’s only regulated marketplace for the digital currency Bitcoin, Bitcoin Cash, Bitcoin Gold and Ethereum under Bitcoin.de and 50% of the shares in Sineus Financial Services GmbH, a financial services provider supervised by BaFin.
Bitcoin Group SE is listed on the Primary Market of Dusseldorf Stock Exchange and on all other German stock exchanges (ticker symbol: ADE, ISIN: DE000A1TNV91, GSIN: A1TNV9). More information on Bitcoin Group SE can be found at bitcoingroup.com.
Bitcoin.de is a licensed Bitcoin marketplace in Germany and Europe’s largest Bitcoin marketplace with more than 800,000 customers. After more than 7.5 years of operation, Bitcoin.de has the reputation of being one of the most secure Bitcoin marketplaces in the world. Since users do not transfer euros to a trust account but pay conveniently from their bank account, the euros used for trading are even deposit-backed. The cryptocurrencies managed by Bitcoin.de, on the other hand, are held 98% in secure cold wallets. Bitcoin.de is the first and only Bitcoin trading platform worldwide to have its customer credit balances audited once a year by a publicly appointed German auditing company (last audit as of October 08 2019). The unique integration with a bank account of the Fidor Bank via express trading allows trading to be carried out as quickly as on a stock exchange. In addition to Bitcoin, on Bitcoin.de Ether (ETH), Bitcoin Cash (BCH), Bitcoin Gold (BTG) and Bitcoin Satoshi Vision (BSV) can be traded against Euro.
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|Company:||Bitcoin Group SE|
|Listed:||Regulated Unofficial Market in Berlin, Dusseldorf (Primärmarkt), Frankfurt, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||1122079|
|End of News||DGAP News Service|