The only licensed German cryptocurrency exchange, Bitcoin Group SE has purchased a Frankfurt investment bank, Tremmel Wertpapierhandelsbank GmbH in its entirety, according to the announcement published on the exchange’s official website.
As it was stated, the bank handles securities and bonds exchange trading for institutional clients, such as banks and investment companies. Tremmel Wertpapierhandelsbank was founded in 1983 and is licensed by the Federal Financial Supervisory Authority, Germany’s financial watchdog, as an investment service provider.
It is expected that Bitcoin Group will use this in order license to sell cryptocurrency-based investment contracts and open up Bitcoin ATMs in the country because one year ago it purchased 50 percent of investment broker SIneus Finance Services for the same reason.
Bitcoin Group is a blockchain venture investment firm that was founded in 2008. It has a cryptocurrency exchange called Bitcoin.de. The company currently has a market value of 132 million euros and is listed on the stock exchanges of Dusseldorf and Frankfurt.
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