BPCE, France's second largest bank, opens crypto investment services for cuútomers

BPCE, the second largest bank in France, is expected to open investment services in Bitcoin and crypto assets to customers in 2025. This service will be launched through its subsidiary Hexarq, after Hexarq received a PSAN license from the French Financial Administration (AMF). This license allows them to carry out transactions such as buying, selling, holding and exchanging digital assets legally in France.

Expansion into the cryptocurrency sector is seen as a key strategy for BPCE to remain competitive in the rapidly changing financial market. The investment service will be developed through an application aimed at serving customers of member banks in the BPCE network, including Banque Populaire and Caisse d'Épargne. This shows the shift of traditional banks in adapting to the development trend of financial technology.

France is currently leading the way in the European Union in terms of regulation and licensing of crypto asset services, which puts BPCE in good stead in this journey.