TBW - EXCLUSIVE: BPCE will allow its customers to invest in crypto assets in 2025

After maintaining a low profile for years, BPCE is set to significantly accelerate its cryptocurrency initiatives. According to our information, the French bank will enable its clients to invest in digital assets starting in 2025.

BPCE will deploy this initiative through its crypto subsidiary Hexarq, which will launch an application for Banque Populaire and Caisse d'Épargne customers. "With this service, BPCE will be able to retain assets from clients who are moving to exchange platforms and also attract new customers," explains a bank insider.

Natixis, BPCE's investment banking arm, is not currently involved in the cryptocurrency initiative. "They will remain focused on market infrastructure and financial asset tokenization," explains the same source. Natixis notably participated in November in the issuance of a 100 million euro bond by Caisse des Dépôts on the blockchain.

Launched in 2021, Hexarq has just obtained its digital asset service provider (PSAN) registration from the Financial Markets Authority (AMF). This allows it to provide custody, buying-selling, and exchange services for crypto assets.

Hexarq is the 4th company, and the 2nd bank after SG Forge, to obtain PSAN registration in France.

For its part, BPCE states that "obtaining regulatory approval does not necessarily mean that an offering will be made in 2025, given the precautions associated with this asset class, but allows us to keep all options open for any future decision."

The BPCE group is among the 10 largest banks in Europe.