Bitcoin.de acquires Bank Tremmel, looking forward to operate cryptocurrency ATMs in the country.
Bitcoin Group SE, the holding company behind Bitcoin.de, the only regulated crypto exchange in Germany just announced their acquisition of Bank Tremmel Wertpapierhandelsbank GmbH.
The exchange is reported to have acquired 100% share of the bank that focuses on securities trading, which makes them obtain the its banking license.
With the acquisition, the company is now looking at expanding their crypto-related offerings significantly as well as operating cryptocurrency ATMs in the country, as reported by CoinTelegraph.
Bank Tremmel, on the other hand, will expand its service into custodian bank together with the holding company, Bitcoin Group SE.
While the exact amount of money is not disclosed, the press release did state it as “in the lower seven-digit euro range”. As of reporting time, the company is still awaiting for approval from the country’s financial authority, before moving forward with their exciting plan for the future.