Hauck & Aufhäuser’s Acquisition of Kapilendo Custodian

YPOG advised Hauck & Aufhäuser Privatbankiers AG on the deal.

Hauck & Aufhäuser Privatbankiers AG has reached an agreement with Bloxxon AG to acquire Kapilendo Custodian AG. The bank thus acquires one of the first crypto custodians with permission to custody crypto assets in Germany.

Hauck & Aufhäuser Privatbankiers focuses on asset management and advisory services, fund services and cooperation with independent asset managers, among others.

Bloxxon, which has been operating under its new brand name since February 2021, was initially launched as a spin-off called Kapilendo Crypto at the beginning of the year. The company offers institutional investors and financial service providers product solutions and API services for digital assets in the core business areas of custody, tokenization and asset servicing. With its own licenses for crypto custody, investment brokerage and financial portfolio management, Bloxxon is considered the leading crypto-as-a-service partner for investment companies, asset managers and banks.

The formerly associated entity Kapilendo Custodian is one of the first crypto custodians with a BaFin authorization to custody crypto assets in Germany and manages cryptographic keys which are used to retain, store or transfer digital assets such as cryptocurrencies.

Following the establishment of the group subsidiary Hauck & Aufhäuser Innovative Capital, an investment company for digital assets, the acquisition of Kapilendo Custodian (henceforth Hauck & Aufhäuser Digital Custody) is the private bank’s next step in expanding its range of services in the field of digital assets. Hauck & Aufhäuser and Bloxxon announced to further expand their cooperation in the field of custody services for digital assets in the future.

The YPOG team included Dr. Jörn Wöbke (Picture – Lead, M&A/Corporate), Partner; Lennart Lorenz (Regulatory), Partner; Daniel Resas (Digital Assets), Associated Partner; Dr. Moritz Diekgräf (M&A/Corporate), Associate and Dr. Niklas Ulrich (Regulatory), Associate.

Furthermore, the transaction was accompanied in-house by Hauck & Aufhäuser’s counsel Dr. Philipp Wösthoff.

Involved fees earner: Moritz Diekgräf – YPOG; Lennart Lorenz – YPOG; Daniel Resas – YPOG; Niklas Ulrich – YPOG; Jörn Wöbke – YPOG;

Law Firms: YPOG;

Clients: Hauck & Aufhäuser Privatbankiers KGaA;

Federica Tiefenthaler

Author: Federica Tiefenthaler