Hexarq, the cryptocurrency subsidiary of Groupe BPCE, has obtained regulatory approval from France’s Financial Markets Authority (AMF) to offer crypto services to its clients in 2025, the Big Whale reported on Dec. 20.
Hexarq can now offer digital asset services such as buying and selling, custody, under French law. This allows the French bank giant to make Bitcoin (BTC), available to 35 million of its customers.
Caution is advised when entering the cryptosphere
The move marks a significant milestone for BPCE, one of Europe’s top 10 banking groups. It highlights BPCE’s cautious but strategic approach to digital finance as it expands into the crypto sector through its Banque Populaire and Caisse d’Épargne networks.
Hexarq will allow the group to offer a secure and regulated option to customers who are increasingly attracted to crypto platforms. It could help to retain current clients and attract those who are looking for alternatives to unregulated platforms.
Hexarq’s PSAN status marks it as one of the few regulated entities in France authorized to offer comprehensive crypto services. It is the second bank to achieve this milestone after Société Générale’s SG Forge, reflecting the growing acceptance of crypto within traditional banking.
Launched in 2021, Hexarq has operated under the radar but is now set to play a central role in BPCE’s strategy. Hexarq is aiming to go beyond simple transactions and offer a wide range of crypto-services tailored for retail clients as well as high-networth individuals.
App-based platforms are expected to be released next year.
Parallel blockchain push
While Hexarq focuses on retail crypto services, BPCE’s investment banking division, Natixis, is carving its own niche in blockchain innovation.
In November, Natixis collaborated with Caisse des Dépôts to issue a €100 million bond on the blockchain. This aligns with Natixis’ broader strategy to explore tokenization and digital market infrastructure, keeping it distinct from Hexarq’s consumer-oriented offerings.
Natixis’ ongoing blockchain projects include developing solutions for tokenized securities, which could streamline institutional investors’ operations and expand access to illiquid asset classes. These initiatives reflect BPCE’s dual-pronged strategy: retail crypto adoption through Hexarq and institutional market transformation through blockchain.
BPCE stressed that a crypto service launch in 2025 was not guaranteed, despite its momentum. The spokesperson stated that the PSAN registration allows for the bank to explore opportunities but the actual rollout depends on the ongoing risk assessment.
Postings in: Bitcoin, France. Banking. Crypto. Featured. TradFi Author 
Assad Jafri
AJ is a dedicated journalist who has spent over a decade honing his craft in various countries. He specializes in financial reporting and now concentrates on cryptocurrency.
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