Bitcoin Group SE is rumored to have been engaging in takeover talks with a number of potential companies that are involved in German deposit-taking or credit institutions.

The 268-year-old German bank Bankhaus von der Heydt is reportedly among their targets. Munich-based Bankhaus von der Heydt has hit a rough patch with its moves to CRYPTOCURRENCIES and digital assets, people familiar with the matter said.

Bankhaus von der Heydt had previously attempted to sell to crypto derivatives exchange BitMEX in March this year, however the deal fell through as it was subject to approval by German financial regulator BaFin. and has been looking for a potential buyer ever since.

People familiar with the matter said the sale may value the bank at about $19.6 million, according to Bloomberg.

While in October of last year, Bankhaus von der Heydt partnered with Fireblocks to expand its digital asset banking, securitization, and fund service offerings to his clients.

Fireblocks has been supporting Bankhaus von der Heydt to leverage their custody services together with the Fireblocks Network to expand digital assets and crypto products to their clients.

As of now, all possible acquisition activities, including Bankhaus von der Heydt, are still under review. Various legal, regulatory and financial issues still require evaluation.

Bitcoin Group is a German-based blockchain and cryptocurrency venture capital firm.

The firm primarily focuses on buying, selling and managing investments in various companies. They are also engaged in acquiring the strategic direction, control and coordination of these companies. Bitcoin Group currently owns futurum bank AG among many other assets.

Futurum Bank AG operates Germany’s only regulated marketplace for the digital currency Bitcoin, Bitcoin Cash, Bitcoin Gold, Ethereum and Litecoin under Bitcoin.de. While he also owns 50% of the shares in Sineus Financial Services GmbH, a financial service provider supervised by BaFin.

Although not much information has been released about Bitcoin Group SE’s acquisition plans, this is a developing story and more remains to be revealed.

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