German bitcoin group SE has acquired all of the shares in investment bank Tremmel for an undisclosed amount. This is the digital currency operator's second acquisition this year. Bitcoin Group, which currently has 40 million in capital, said the acquisition of Tremmel would allow them to issue their own cryptocurrency products, conduct proprietary trading and operate Bitcoin ATMs. Acquisition is to expand Bitcoin Group's business scope Bitcoin.de, run by a company listed on the Frankfurt Stock Exchange, is Germany's only regulated digital currency exchange, supporting trading in BTC, BCH and ETH. The company hopes to expand the scope of its business portfolio with Tremmel's banking license, for example, the platform can now place orders, even quotes, while ensuring more liquidity transactions. “We are delighted to have such a great partner and gain a deeper understanding of the market,†Marco Bodewein, managing director of Bitcoin Group, said in a statement online Nov. 12. He also said, “This will allow us to Taking the corporate development of Bitcoin Group SE to the next level.†The transaction is expected to close in the first half of 2019, subject to relevant regulatory approvals. The Bitcoin Group did not disclose the actual purchase price, but said that "it is less than seven figures (in euros)." Rainer Bergmann, the former sole shareholder and managing director of Tremmel, will continue to work in the investment bank in the same capacity. The bank trades stocks, securities and other stock exchange products on behalf of domestic and foreign banks, insurance companies and asset managers. Bitcoin Group said the bank will expand into a deposit-taking institution. reorganization Digital currency exchanges are looking to develop new areas or consolidate existing positions to boost revenue and reduce risks from regulatory uncertainty in the domestic economic environment. In January, Bitcoin Group acquired a 50% stake in financial investment economics firm Sineus Financial Services Gmbh to diversify risk. The group has a total of 753,000 investors digital assets on its platform. "This will enable the group to offer other financial services in the cryptocurrency space in the future," the company said at the time. In the first six months of this year, Bitcoin Group reported a 306 percent increase in net profit, from $950,000 to $3.85 million. Revenue tripled from $2.1 million in the same period a year ago to a staggering $6.57 million. Operating profit rose 368% to $5.64 million. The exchange said bitcoin traded at $707.6 million at the end of last year, when bitcoin’s price hit $20,000. Shares in Bitcoin Group were down 0.36 percent at $31.41 on the Frankfurt bourse after the close on Tuesday. Over the past year, the company's shares have traded as high as $97.18 and as low as $28.02. Cummins Tube Brace,Cummins Oil Supply Tube,Cummins Wiring Harness,fuel supply pipeline Cummins Chongqing LDJM Engine Parts Center , http://www.ckcummins.com