Hexarq, a subsidiary of BPCE, facilitates the acquisition of BTC and crypto. This action is in response to Hexarq’s acquisition of a PSAN license from the French Financial Markets Authority (AMF), which enables BPCE to provide crypto services.
According to The Big Whale, BPCE Groupe, the second-largest bank in France, will permit its 35 million consumers to purchase and sell Bitcoin and other crypto assets in 2025. This is in response to the French Financial Markets Authority (AMF) issuing a PSAN license to its subsidiary, Hexarq.
PSAN (Digital Asset Service Provider) license permits Hexarq to provide services related to cryptocurrency in France. BPCE will facilitate the purchase and transfer of Bitcoin and crypto to consumers of its two banking networks: Banque Populaire and Caisse d’Épargne, via the Hexarq app.
BPCE is implementing this strategic move in order to maintain its customer base and remain competitive in a financial market that is becoming increasingly digital.
In 2021, BPCE established its subsidiary Hexarq, which became the second bank and the fourth provider to receive a PSAN license in France.
This development occurs subsequent to the AMF’s issuance of a PSAN license to SG Forge, a subsidiary of the French financial behemoth Société Générale, in August 2023. In 2025, SG Forge intends to introduce its EURCV stablecoin on the XRP Ledger, utilising the Ripple Custody solution (previously Metaco, recently acquired by Ripple).
The AMF is currently bolstering its crypto regulatory initiatives in anticipation of the imminent implementation of the European Union’s comprehensive MiCA regulation on December 30, 2024. The growing popularity of cryptocurrency in France has prompted significant corporations, such as Gemini, to expand their operations in Europe.
Nevertheless, Bybit and other organisations have also departed the European market as MiCA approaches. In order to maintain its status as the premier stablecoin issuer in the European region, Tether has formed a partnership with StablR as part of its strategy to encourage the adoption of compliant digital assets in this market.
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