BPCE, one of Europe’s largest banking institutions, announced plans to allow its customers to invest in digital assets starting in 2025. The banking firm will facilitate the initiative through Hexarq, BPCE’s cryptocurrency subsidiary, which recently secured registration as a digital asset service provider (PSAN) from France’s Financial Markets Authority (AMF). For context, Groupe BPCE ranks among the top 10 largest banks in Europe, serving millions of customers through its various subsidiaries.
Hexaraq’s Role
Hexarq’s PSAN registration authorizes it to offer custody, buying, selling, and exchange services for crypto assets. It became the fourth company and the second bank after SG Forge to obtain this registration in France. The subsidiary plans to launch an application tailored to customers of Banque Populaire and Caisse d’Épargne, both of which are part of the BPCE network.
“With this service, BPCE aims to retain clients who might otherwise turn to external exchange platforms and to attract new customers,” a reputable source stated. However, BPCE emphasized that obtaining regulatory approval does not guarantee a 2025 launch, citing the need for caution with this asset class. The bank noted that the approval allows it to keep options open for future decisions.
Natixis will Focus on Non-Crypto Entities.
Natixis, BPCE’s investment banking division, is not currently involved in this cryptocurrency initiative. Instead, Natixis will continue focusing on market infrastructure and the tokenization of financial assets. In November, Natixis participated in issuing a €100 million bond by Caisse des Dépôts on the blockchain.
This move aligns BPCE with other major financial institutions exploring digital assets. Analysts suggest cryptocurrencies are becoming a powerful lobby, with more states expected to introduce crypto-friendly legislation in 2025.
As the financial industry increasingly integrates digital assets, BPCE’s cautious yet proactive approach reflects a broader trend among traditional banks to adapt to evolving market demands.
