BPCE Enters Crypto Space with Official Regulatory Clearance
BPCE’s Hexarq secures AMF approval, expanding its digital asset services in France by 2025.
Highlights:
•
BPCE’s crypto subsidiary, Hexarq, receives AMF approval to offer crypto services in France.
•
Hexarq plans to integrate crypto services into BPCE’s banking networks by 2025.
•
France’s crypto landscape evolves as more firms like BPCE gain regulatory authorization.
BPCE bank’s crypto subsidiary, Hexarq, recently secured approval from the country’s financial regulator, the Autorité des Marchés Financiers (AMF). This marks a significant shift in the financial sector. BPCE now aims to be a major player in the crypto space by 2025.
Hexarq: A New Player in Digital Assets
Hexarq, launched in early 2021, focuses on digital assets and tokenized Real-World Assets (RWA). With its new Crypto Asset Service Provider (CASP) approval, Hexarq will offer services like secure custody, euro-denominated crypto trading, and simplified buy-sell options for digital assets.
Hexarq’s approval by AMF positions the platform as one of the few licensed crypto firms in France. BPCE plans to integrate Hexarq into its banking networks, Banque Populaire and Caisse d’Épargne, which serve around 35 million customers.
France’s Evolving Crypto Regulations
Hexarq’s approval fits into France's broader shift toward embracing digital assets. In August 2024, the AMF began accepting Crypto Asset Service Provider licenses ahead of the European Union’s Markets in Crypto-Assets (MiCA) regulations, which will take effect in December 2024.
BPCE’s entry into the crypto space is more than a reactive step. It reflects a strategy to stay ahead in the evolving digital economy. Combining traditional banking with crypto positions BPCE to meet the growing demand for regulated, secure digital asset services.
While BPCE moves forward with crypto, Bybit, a major exchange, announced it will halt services in France in 2025. Bybit cites the country’s increasingly tough regulatory environment as the reason for suspending withdrawal and custody services.
Related news
Subscribe To
Web3Buzz
Connecting you to the world of Web3
Related News
People also like to read
Latest News