French Banking Giant BPCE to Launch Bitcoin and Crypto Investment Services in 2025
French banking giant BPCE, one of the largest financial institutions in the country, is set to enter the cryptocurrency market by offering Bitcoin and crypto investment services to its customers. The service will be rolled out through BPCE's subsidiary Hexarq in 2025, marking a significant move for traditional banking in the crypto space.
Regulatory Green Light: PSAN Authorization
Hexarq recently secured PSAN (Prestataire de Services sur Actifs Numériques) authorization from the AMF (Autorité des Marchés Financiers), France’s financial markets regulator. This authorization allows Hexarq to operate legally as a Virtual Asset Service Provider (VASP) in the French digital asset market.
Hexarq is now the second bank and fourth company in France to receive this authorization, following SG Forge. With this license, Hexarq is authorized to hold, buy, sell, and exchange digital assets, enabling BPCE to provide a comprehensive suite of crypto services.
Enhancing Customer Loyalty Through Innovation
BPCE’s move into digital assets reflects a strategic initiative to remain competitive and enhance customer loyalty in an evolving financial landscape. By offering crypto investment services, BPCE aims to cater to the growing demand for digital asset exposure among its customers, particularly within its Banque Populaire and Caisse d’Épargne networks.
The new services will be implemented through a dedicated app developed by Hexarq, designed to provide seamless access to Bitcoin and other digital assets.
France: A Leader in Crypto Regulation
France has emerged as a frontrunner in the European Union for crypto regulations, becoming the first major EU economy to open applications for crypto service provider licenses under the Markets in Crypto Assets (MiCA) regulation.
The AMF began accepting applications on July 1, 2024, ahead of MiCA’s full implementation on December 30, 2024. This proactive approach has positioned France as a hub for crypto innovation and regulatory clarity within the EU.
Recent moves by global crypto players, such as Gemini's expansion into France, highlight the country’s growing importance in the digital asset ecosystem.
A Major Step for Traditional Banking and Crypto Adoption
BPCE’s entry into the crypto market signifies a major shift for traditional financial institutions embracing digital assets. By aligning with regulatory frameworks and investing in innovative platforms like Hexarq, BPCE is bridging the gap between traditional banking and the future of finance.
As the world of crypto continues to evolve, BPCE’s initiative sets a precedent for how banks can integrate Bitcoin and digital assets into their offerings to meet customer demand and drive innovation.
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