BitMEX Execs Plan to Acquire One of Germany’s Oldest Banks

The acquisition is the latest example of a cryptocurrency company making a move into traditional banking

article-image

BitMEX CEO Andrew Höptner

share
  • BitMEX executives are planning on buying a 268-year-old bank
  • Pending regulatory approval, BXM Operations AG will purchase Bankhaus von der Heydt for an undisclosed amount

BitMEX’s top brass is laying the groundwork for the company’s European expansion.

BXM Operations AG, the company founded by BitMEX CEO Alexander Höptner and CFO Stephan Lutz, announced plans on Tuesday to acquire German bank Bankhaus von der Heydt. 

The acquisition of the 268-year-old bank is the first step toward creating a one-stop shop for regulated cryptocurrency products across Germany, Austria and Switzerland, the company said

“Through combining the regulated digital assets expertise of Bankhaus von der Heydt with the crypto innovation and scale of BitMEX, I believe we can create a regulated crypto products powerhouse in the heart of Europe,” Höptner said in a statement. 

Bankhaus von der Heydt is no stranger to digital assets. In October, the Munich bank revealed plans to expand into crypto banking through a custody deal with Fireblocks, becoming one of the first banks to offer crypto services in the region. In addition to custody, Bankhaus von der Heydt currently offers blockchain payments services.

BitMEX is particularly looking to Germany to begin its European expansion, given the country’s business-friendly economy, Lutz said. BXM Operations AG is headquartered in Germany. 

The announcement is in line with a growing trend of cryptocurrency companies expanding into traditional banking services. Crypto exchanges including Coinbase and Kraken now offer lending and prime brokerage services, for example. 

BXM Operations AG and Bankhaus von der Heydt’s current owner, Dietrich von Boetticher, have agreed on terms — pending approval from German regulator BaFun. 

Bankhaus von der Heydt will continue its banking operations after the deal is finalized, according to BXM Operations AG. Höptner and Lutz will serve on the bank’s supervisory board. 

The acquisition is expected to be finalized by the middle of the year. Terms of the deal were not disclosed. 

Tags

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Research Report Templates (1).png

Research

Aave’s revenues have doubled from April lows and are fast approaching all-time highs. With 35% of borrow interest coming from ETH and 55% from stablecoins, Aave is emerging as a powerful proxy as an ETH and stablecoin beta. As looping strategies accelerate growth and Horizon positions the protocol to ride the RWA wave, Aave is shaping up as one of DeFi’s most compelling multi-narrative plays.

article-image

Lehman becomes Pantera’s fourth junior partner

article-image

The DAT trend may differ from prior implosions

article-image

The exchange has filed a proposal to let investors settle equities on-chain with full shareholder rights, according to reports

by Blockworks /
article-image

If AI is a replacement for humans, wouldn’t companies fire the expensive ones first?

article-image

Lawmakers are expected to consider the new version at the end of September

article-image

Bitwise investment strategist expects end to “the wild-west phase of public companies …turning into crypto vehicles”