German Cryptocurrency Firm Buys Frankfurt Investment Bank

Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term Group SE, the company that owns the only licensed cryptocurrency exchange in Germany, has purchased a Frankfurt investment bank in its entirety.

The bank is Tremmel Wertpapierhandelsbank GmbH. According to its website, it handles securities/bonds/stock exchange trading for institutional clients, such as banks and investment companies. It was created in 1983 and is licensed by the Federal Financial Supervisory Authority, or BaFin, Germany's financial watchdog, as an investment service provider.

Bitcoin Group wants to use this licence to sell cryptocurrency-based investment contracts and open up Bitcoin ATMs. In January it purchased 50 percent of investment broker SIneus Finance Services for the same reason.

Hailing from Herford, a town in north-western Germany, Bitcoin Group is Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Read this Term venture investment firm founded in 2008. Its cryptocurrency exchange is called Bitcoin.de. Bitcoin Group has a market value of 132 million euros and is listed on the stock exchanges of Dusseldorf and Frankfurt. In June 2018 it published its financial results for the year so far; it made 3.3 million euros profit in the first half of 2018, compared with 819,000 euros in the previous year.

Low Seven Figures

The price of the latest deal was described as being in the "low seven digit range", according to Borse Frankfurt. The deal is expected to be completed in the first half of next year. Tremmel managing director and previous sole shareholder Rainer Bergmann is to continue in his position.

Marco Bodewein, managing director of Bitcoin Group, said: "We are very pleased that in Tremmel...we have been able to gain an excellently positioned partner with in-depth knowledge of the market. This will enable us to take the corporate development of Bitcoin Group SE to a new level."

The German watchdog has repeatedly warned investors to be cautious with cryptocurrency dealings. Only last week it flagged an illegally-operating cryptocurrency company called Crypto-Capitals, which is apparently owned by a British company called Finatex,

Last month, Germany's central bank, Deutsche Bundesbank, tested a blockchain project with Deutsche Borse using Hyperledger Fabric.