French Banking Giant BPCE to Roll Out Crypto Trading for 2M Retail Clients

In a significant development for the cryptocurrency landscape in Europe, BPCE, one of France's largest banking groups, is set to commence its crypto trading services for retail clients. Starting next week, customers will have the opportunity to buy and sell various cryptocurrencies directly through their banking apps, marking a pivotal moment in the integration of digital assets within traditional banking frameworks.

Crypto trading launch for retail customers begins next week

BPCE's initiative will begin with its Banque Populaire and Caisse d’Épargne applications, targeting around 2 million retail customers in its initial phase. This rollout allows users to engage in cryptocurrency transactions seamlessly within their existing banking platforms.

Customers can trade Bitcoin, Ethereum, Solana, and USDC easily

Through this service, customers will be able to trade popular cryptocurrencies such as Bitcoin, Ethereum, Solana, and USDC. Each customer will manage their trades via a separate digital asset account, which is overseen by Hexarq, the bank's dedicated cryptocurrency subsidiary. The account incurs a monthly fee of 2.99 euros, with a 1.5% commission on transactions, and a minimum fee of one euro per trade.

BPCE plans gradual rollout and expansion to 12 million customers

Initially, the service will cater to clients from four regional banks, including Banque Populaire Île-de-France and Caisse d’Épargne Provence-Alpes-Côte d’Azur. BPCE has expressed intentions to extend this service to its entire customer base of 12 million by 2026, indicating a carefully monitored phased launch to assess both user adoption and system performance.

Other European banks also embrace crypto trading services

This move by BPCE aligns with a growing trend among European banks to incorporate cryptocurrency trading into their offerings. For instance, BBVA has enabled crypto trading directly through its banking app in Spain, while Santander’s Openbank provides access to five different cryptocurrencies with integrated custody solutions. Additionally, Raiffeisen Bank's Vienna-based unit has partnered with a cryptocurrency platform to offer similar services to its clients.

As BPCE's crypto trading services roll out, they represent a significant stride towards normalizing cryptocurrency transactions in everyday banking, reflecting a broader acceptance of digital assets in the financial sector.