Groupe BPCE Receive Crypto Regulatory Approval

Hexarq, the cryptocurrency division of Groupe BPCE, has received regulatory approval from France’s Financial Markets Authority (AMF) to provide crypto services to its customers in 2025. The authorization classified as PSAN registration, enables Hexarq to offer custody, purchasing, and selling services for digital assets by French law.

 

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Hexarq,  introduced in 2021, has been operating covertly but is now expected to be a key component of BPCE’s strategy. Hexarq wants to provide an ecosystem of cryptocurrency services catered to high-net-worth and retail customers, beyond simple transactions.

This helps the French banking behemoth to provide Bitcoin (BTC) to its 35 million clients. It also emphasizes BPCE’s strategic yet cautious approach to digital finance as it enters the cryptocurrency market through Caisse d’Épargne and Banque Populaire. The group hopes to offer safe, regulated alternatives to clients interested in cryptocurrency platforms by utilizing Hexarq.

BPCE’s investment banking division, Natixis, is establishing a distinct niche in blockchain innovation, whereas Hexarq concentrates on retail crypto services.

Natixis and Caisse des Dépôts issued a €100 million blockchain bond last month. Natixis continues to set itself apart from Hexarq’s customer-focused offerings as part of its broader strategy to look into tokenization and digital market infrastructure.

The development of tokenized securities solutions is one of Natixis’ ongoing blockchain initiatives; this could facilitate institutional investors’ operations and increase access to illiquid asset classes.

The two-pronged strategy of BPCE is reflected in these initiatives: institutional market transformation through blockchain and retail crypto adoption through Hexarq. Notwithstanding the momentum, BPCE has stressed that there is no assurance that crypto services will be launched in 2025. According to a spokesperson, the bank can take advantage of opportunities thanks to its PSAN registration, but the rollout will be contingent on continuous risk assessments.

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ABOUT THE AUTHOR See More
Olumide Adesina
Olumide Adesina
Financial Market Writer
Olumide Adesina is a French-born Nigerian financial writer. He tracks, analyzes, and reports changes in financial markets with over 15 years of working experience in investment trading.
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