5 months ago
Hexarq, the cryptocurrency subsidiary of Groupe BPCE, has obtained regulatory support from France’s Financial Markets Authority (AMF) to connection crypto services to its clients successful 2025, the Big Whale reported connected Dec. 20.
The approval, known arsenic PSAN registration, allows Hexarq to supply custody, buying, and selling services for integer assets nether French law, paving the mode for the French banking elephantine to connection Bitcoin (BTC) to its 35 cardinal customers.
Cautious introduction into crypto
The determination marks a important milestone for BPCE, 1 of Europe’s apical 10 banking groups. It highlights BPCE’s cautious but strategical attack to integer concern arsenic it expands into the crypto assemblage done its Banque Populaire and Caisse d’Épargne networks.
By leveraging Hexarq, the radical aims to supply secure, regulated options for customers progressively drawn to crypto platforms. This could not lone assistance clasp existing clients but besides pull caller ones seeking alternatives to unregulated exchanges.
Hexarq’s PSAN presumption marks it arsenic 1 of the fewer regulated entities successful France authorized to connection broad crypto services. It is the second slope to execute this milestone aft Société Générale’s SG Forge, reflecting the increasing acceptance of crypto wrong accepted banking.
Launched successful 2021, Hexarq has operated nether the radar but is present acceptable to play a cardinal relation successful BPCE’s strategy. Beyond basal transactions, Hexarq aims to connection an ecosystem of crypto services tailored to retail and high-net-worth clients.
The app-based level is expected to rotation retired adjacent year.
Parallel blockchain push
While Hexarq focuses connected retail crypto services, BPCE’s concern banking division, Natixis, is carving its ain niche successful blockchain innovation.
In November, Natixis collaborated with Caisse des Dépôts to contented a €100 cardinal enslaved connected the blockchain. This aligns with Natixis’ broader strategy to research tokenization and integer marketplace infrastructure, keeping it chiseled from Hexarq’s consumer-oriented offerings.
Natixis’ ongoing blockchain projects see processing solutions for tokenized securities, which could streamline organization investors’ operations and grow entree to illiquid plus classes. These initiatives bespeak BPCE’s dual-pronged strategy: retail crypto adoption done Hexarq and organization marketplace translation done blockchain.
Despite the momentum, BPCE has emphasized that a 2025 motorboat of crypto services is not guaranteed. A spokesperson noted that portion the PSAN registration allows the slope to prosecute opportunities, the rollout volition beryllium connected ongoing hazard assessments.
The station French banking elephantine Groupe BPCE secures regulatory greenlight for crypto services appeared archetypal connected CryptoSlate.
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