Groupe BPCE Taps Hexarq to Strengthen Crypto Presence in EU
Groupe BPCE, one of France’s largest banks, plans to offer Bitcoin and cryptocurrency investment services to its customers in 2025.
The program will be executed through its subsidiary Hexarq, which recently received PSAN (digital asset service provider) authorization from the French financial markets regulator Autorité des Marchés Financiers (AMF).
Groupe BPCE forms alliance with MiCA to offer cryptocurrency via Hexarq in 2025
Hexarq is now a second subsidiary bank French cryptocurrency entities Follow SG Forge to obtain this authorization. This approval allows Hexarq legally holds, buys, sells and exchanges digital assets in the country.
The bank aims to expand its consumer base and increase customer loyalty through: Integrate These services are integrated into applications developed by Hexarq. The app will eventually target customers of the Banque Populaire and Caisse d’Épargne networks, France’s largest banking groups.
Founded in 2021, Hexarq will lead BPCE’s first expansion into the digital asset space. This marks a significant shift from the group’s previously cautious stance on cryptocurrencies. This measure is also consistent with France’s positive moves Cryptocurrency regulation.
The AMF began accepting applications for crypto services licenses under the supervision of the Market for Crypto-Assets (MiCA) in July. all Comprehensive MiCA regulations It will take effect on December 30. Jobs in France As a leader in implementing the regulatory framework for cryptocurrencies within the EU.
“This is a landmark move for mainstream cryptocurrency adoption in France! As Groupe BPCE enters the cryptocurrency space, we are looking at a major shift to integrate digital currencies into traditional banking services. This could set a precedent for other major European banks to follow suit “Exciting times are ahead for cryptocurrency enthusiasts and investors,” one user said. Wrote.
Cryptocurrencies have been in a gray area in France in recent years. The country seems open to promoting cryptocurrency adoption but also wants to maintain strict regulations on centralized exchanges. Earlier this week, Bybit announces it will cease services Available for French users from January 2025.
Meanwhile, crypto-based prediction platforms Polymarket also bans French users Due to continuous warnings from regulators. However, many exchanges continue to overcome these regulatory hurdles to operate in this market.
Back in January, cryptocurrency exchange Gemini announced After obtaining VASP (Virtual Asset Service Provider) registration, it launched operations in France to further expand its European business.
Overall, Groupe BPCE’s foray into the cryptocurrency market reflects a broader trend of traditional financial institutions embracing digital assets. This strategic move aims to Meet growing customer needs and remain competitive in the financial world.
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