BPCE, a leading French financial institution, has announced a groundbreaking move into the cryptocurrency market. Following the approval from the French regulator Autorité des marchés financiers, BPCE’s subsidiary Hexarq has secured a virtual assets service provider license. This allows them to offer Bitcoin and other cryptocurrency purchases, catering to the growing demand among French consumers.

Hexarq’s new status as a registered PSAN enables BPCE customers across its Banque Populaire and Caisse d’Épagne networks to buy and sell cryptocurrencies via a dedicated Hexarq app. This strategic initiative positions BPCE to retain customers and enhance its competitiveness in the rapidly evolving financial sector.

The move reflects a broader trend of accelerating global adoption of cryptocurrencies. With Hexarq established in 2021, BPCE is now the second French bank to step into the crypto space following the AMF’s recent regulatory approvals. This proactive approach by the AMF aligns with the upcoming comprehensive MiCA regulations set to reshape the European crypto landscape in December 2024.

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