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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.

“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.

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.