The Block: BCB Group Swoops for Germany’s Sutor Bank

The Block covers BCB Group’s acquisition of Sutor Bank.

BCB Group is set to take over Hamberg-based Sutor Bank, in a move that will give the crypto payments provider banking capabilities.

The group did not disclose terms of the deal but said it would include a “significant capital injection” to take over 100% of the bank after BaFin — Germany’s financial regulator — has given its approval.

Sutor, which is a private bank, will become part of the international BCB Group, which already includes regulated companies in Switzerland and the United Kingdom.

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