French banking giant BPCE is initiating in-app cryptocurrency trading for retail customers through its subsidiary, Hexarq, offering Bitcoin, Ethereum, Solana, and USD Coin to two million users.
This move signifies BPCEโs entry into the growing digital asset space, aiming to integrate cryptocurrency within traditional banking services, aligning with Franceโs regulatory frameworks and expanding financial service offerings.
BPCE, Franceโs second-largest banking group, has launched in-app crypto trading via its subsidiary, Hexarq. This service initially supports BTC, ETH, SOL, and USDC for around 2 million retail clients.
Hexarq, the digital-asset arm of BPCE, operates under French regulatory frameworks. The rollout, starting with an initial base, will expand across BPCEโs networks by 2026.
Nicolas Namias, Chairman of the Management Board, BPCE SA, โWe are committed to offering our clients secure, regulated access to digital assets, reinforcing our position as a leader in open finance.โ โ source
BPCE Launches Crypto Trading for 2 Million Clients
BPCEโs move is poised to influence European retail crypto adoption. Analysts predict potential shifts in market dynamics and increased institutional participation levels.
Regulatory implications include alignment with AMF and impending MiCA rules. This also potentially sets a standard for other banks in Europe to incorporate similar services into their financial offerings.
Integration Trends: Following BBVA Switzerlandโs Lead
This initiative follows trends seen in other European banks, such as BBVA Switzerlandโs BTC/ETH offering. Comparable ventures have previously fostered higher crypto adoption without causing immediate valuation surges for the involved digital assets.
Experts, like those from Kanalcoin, suggest that integration of major assets like BTC and ETH in bank apps could significantly enhance crypto visibility and mainstream adoption.
This gradual acceptance is expected to bolster the digital asset market in the long term.
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