The French financial giant BPCE will offer crypto investments to its customers from 2025 through its crypto subsidiary Hexarq.
According to The Big Whale, France’s second largest bank BPCE will allow purchases of Bitcoin (BTC) and crypto assets after its subsidiary received regulatory approval. Hexarq has received a virtual asset service provider license from the French regulator Autorité des marchés financiers.
The AMF regulatory framework allows registered crypto providers to offer cryptocurrency-related services in France. As a registered PSAN, Hexarq has regulatory approval to offer crypto services to BPCE customers in the country.
According to The Big Whale, PBCE will use a Hexarq app to enable customers on its Banque Populaire and Caisse d’Épargne networks to buy and sell BTC and crypto. The retail banking and insurance provider is taking the initiative and planning to retain customers and compete in the evolving financial market landscape.
BPCE’s entry into the crypto investment space comes at a time when global adoption of Bitcoin and other cryptocurrencies is accelerating.
The bank founded its subsidiary Hexarq in 2021, making it the fourth provider and the second bank to receive a PSAN license in France. This follows the approval of a PSAN by the AMF for SG Forge, a subsidiary of French banking giant Société Générale, in August 2023. SG Forge plans to launch a stablecoin on the XRP ledger.
In recent months, the AMF has ramped up its crypto regulation efforts as the country prepares to fully implement European Union rules for crypto asset markets. Frame. Mica,…
