Hamburg – YPOG advised Hauck & Aufhäuser Privatbankiers AG on the acquisition of the crypto custodian Kapilendo Custodian AG from Bloxxon AG. The transaction is still subject to the approval of the competent supervisory authority.
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.
Hauck & Aufhäuser received comprehensive advice on the transaction from a YPOG team led by Jörn Wöbke.
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Team:
Dr. Jörn Wöbke (Lead, M&A/Corporate), Partner
Lennart Lorenz (Regulatory), Partner
Daniel Resas (Digital Assets), Associated Partner
Dr. Moritz Diekgräf (M&A/Corporate), Associate
Dr. Niklas Ulrich (Regulatory), Associate
Furthermore, the transaction was accompanied in-house by Hauck & Aufhäuser's counsel Dr. Philipp Wösthoff.
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YPOG stands for You + Partners of Gamechangers – forward-thinking legal and tax advice. Supporting companies that are focused on emerging technologies, YPOG embraces change as an opportunity to develop cutting-edge solutions. The YPOG team offers comprehensive expertise in the areas of Funds, Tax, Transactions, Corporate, Banking, Regulatory + Finance, IP/IT/Data Protection, Litigation, and Corporate Crime + Compliance + Investigations. YPOG is one of the leading law firms in Germany for venture capital, private equity, fund structuring, and the implementation of distributed ledger technology (DLT) in financial services. Both the firm and its partners are regularly recognized by renowned national and international publications such as JUVE, Best Lawyers, Chambers and Partners, Leaders League, and Legal 500. YPOG is home to more than 150 experienced attorneys, tax advisors and tax specialists as well as a notary, working across offices in Berlin, Hamburg, Cologne, and Munich.
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