Big Whale reported on December 20 that Hexarq, the cryptocurrency subsidiary of Groupe BPCE, has received regulatory approval from the French Financial Markets Authority (AMF) to offer crypto services to its clients in 2025.
The approval, known as the PSAN registration, allows Hexarq to offer custody, purchase and sale of digital assets under French law, paving the way for the French banking giant to offer Bitcoin (BTC) to 35 million Make your client smooth.
Get into crypto cautiously
The move is an important milestone for BPCE, one of Europe's top 10 banking groups. This demonstrates BPCE's cautious but strategic approach to digital financing as it expands into the crypto sector through the Banque Populaire and Caisse d'Épargne networks.
With Hexarq, the group aims to provide secure and regulated options to customers who are increasingly drawn to crypto platforms. This can not only help retain existing customers but also attract new customers looking for an alternative to illegal exchanges.
Hexarq's PSAN status recognizes it as one of the few regulated entities in France authorized to provide comprehensive cryptographic services. it is Second bank to reach this milestone After SG Forge Société Générale, which reflects the growing acceptance of crypto in traditional banking.
Launching in 2021, Hexarq has operated under the radar but is now set to play a central role in BPCE's strategy. Beyond basic transactions, Hexarq aims to provide an ecosystem of crypto services tailored to retail and high net worth customers.
The app-based platform is expected to launch next year.
Blockchain parallel push
While Hexarq focuses on retail crypto services, BPCE's investment banking arm, Natixis, is carving its own niche in blockchain innovation.
In November, Natixis partnered with Caisse des Dépôts to issue a €100 million bond on the blockchain. This aligns with Natixis' broader strategy to explore tokenization and digital marketplace infrastructure, and keeps it distinct from Hexarq's consumer offerings.
Natixis' ongoing blockchain projects include developing solutions for tokenized securities that can simplify operations for institutional investors and increase access to illiquid asset classes. These initiatives reflect BPCE's two-pronged strategy: retail crypto adoption through Hexarq and institutional market transformation through blockchain.
Despite this momentum, BPCE has emphasized that the launch of crypto services in 2025 is not guaranteed. A spokesperson noted that while the PSAN registration allows the bank to pursue opportunities, the offering is subject to ongoing risk assessments.
