The banking group of France BPCE announces its debut in investment services in Bitcoin and crypto in 2025. Through Hexarq, the bank aims to consolidate its position in the regulated digital asset market.
Let’s see all the details in this article.
Summary
Hexarq, controlled by the French bank BPCE, obtains PSAN authorization to operate in crypto
As anticipated, the French banking giant BPCE has made official its entry into the cryptocurrency market, announcing the launch of investment services in Bitcoin and other digital assets for 2025.
The move will be implemented through the subsidiary Hexarq, which has recently obtained the PSAN (Prestataire de Services sur Actifs Numériques) authorization from the Autorité des marchés financiers (AMF), the supervisory body of the French financial markets.
This license, essential for legally operating in the digital asset sector in France, allows Hexarq to hold, buy, sell, and exchange criptovalute.
With this approval, Hexarq becomes the second bank in France to obtain the status of PSAN operator, following in the footsteps of SG Forge.
Founded in 2021, Hexarq was chosen to lead BPCE’s expansion in the bull digital asset sector.
The subsidiary will develop an innovative platform, available through a dedicated app, which will be integrated with the Banque Populaire and Caisse d’Épargne networks, two pillars of the banking group.
The offer aims to meet the growing customer demands for services related to cryptocurrencies, while simultaneously strengthening the loyalty of BPCE’s customer base.
A source close to the bank has confirmed that this initiative represents a strategic step to maintain competitiveness in a rapidly evolving market.
France: European leader in crypto regulation
France is positioning itself as one of the most proactive countries in the adoption of regulations for the cryptocurrency sector.
With the introduction of the Markets in Crypto Assets (MiCA) regulation, the country has paved the way for the supervision of digital asset service providers in the European Union.
L’AMF has started receiving applications for VASP (Virtual Asset Service Provider) licenses on July 1, 2024, in anticipation of the MiCA coming into effect on December 30, 2024.
This regulatory framework has attracted prominent companies such as the exchange Gemini, which has recently obtained registration in France to expand its presence in the European market.
The entry of BPCE into the cryptocurrency sector is emblematic of a broader trend: traditional financial institutions are progressively embracing digital assets to remain relevant in a transforming financial landscape.
With the integration of crypto services into its offering, BPCE could attract a new generation of clients interested in innovative and diversified investments.
Furthermore, the Hexarq platform represents an opportunity to educate clients about cryptocurrencies, while offering a regulated and secure environment for investing.
Competition and the regulatory context
Hexarq will find itself competing with already established players in the market, such as SG Forge, but the support of BPCE and its strategic approach could constitute a competitive advantage.
Furthermore, the implementation of MiCA could ensure greater stability and transparency, fostering the growth of the crypto sector in the EU.
According to experts, the adoption of cryptocurrencies by large banking institutions like BPCE could also accelerate the process of global regulation, pushing other countries to develop similar regulatory frameworks.
In other words, the announcement by BPCE marks a crucial moment for the banking and cryptocurrency sector.
If implemented successfully, the Hexarq project could not only strengthen the banking group’s position in France, but also serve as a model for other institutions wishing to enter the digital asset market.
As 2025 approaches, all eyes will be on BPCE and Hexarq to assess how this initiative will impact the cryptocurrency landscape and the relationship between traditional banks and digital assets.
