BPCE's New Crypto Offering and Initial Rollout
BPCE, one of France’s largest banking groups, is set to begin offering cryptocurrency trading to its retail customers starting Monday. This move makes it one of the first major European banks to integrate digital asset trading directly into standard mobile banking applications. Customers of Banque Populaire and Caisse d’Épargne will gain the ability to buy and sell Bitcoin, Ether, Solana, and USDC without the need for external exchanges, according to reports from The Big Whale. The initial phase of this rollout will encompass clients from four regional banks, including Banque Populaire Île-de-France and Caisse d’Épargne Provence-Alpes-Côte d’Azur, affecting approximately 2 million individuals. BPCE has plans to extend this feature to its remaining 25 regional entities by 2026, ultimately making crypto trading accessible to an estimated 12 million retail customers.
A source within the bank informed The Big Whale that this phased deployment strategy allows BPCE to carefully "monitor how the service performs at launch" before making it available to its entire network.
Investor Insight
The introduction of in-app cryptocurrency trading by a prominent European bank signifies a notable shift in retail access to digital assets. This development is likely to increase pressure on other financial institutions that have been slower to integrate digital assets directly into their consumer-facing platforms.
Mechanism of Crypto Trading Within BPCE's Banking Apps
Crypto transactions will be managed within a dedicated digital asset account, overseen by Hexarq, BPCE’s specialized crypto subsidiary. This account comes with a monthly fee of €2.99 (approximately $3.48) and incurs a 1.5% trading commission, with a minimum charge of $1.16 per trade. Users will not require separate exchanges or digital wallets, as custody and transaction execution will occur within the familiar mobile banking environment they already utilize. This integrated approach positions BPCE to compete directly with fintech companies that have previously gained traction by combining banking and cryptocurrency services. Companies such as Revolut, Deblock, Bitstack, and Trade Republic already provide in-app trading options, attracting younger demographics and savers who view cryptocurrencies as an integral part of their daily financial activities. BPCE's entry into this space broadens the competitive landscape and indicates a growing willingness among traditional banks to engage with the cryptocurrency interface, rather than conceding it entirely to fintech challengers. Other European banks have also been making similar advancements. For instance, BBVA allows its customers in Spain to buy, sell, and hold Bitcoin and Ether using internal custody services. Santander’s Openbank offers trading capabilities for five different cryptocurrencies. Additionally, Raiffeisen Bank's Vienna branch has partnered with Bitpanda to embed cryptocurrency access within its retail application. BPCE's expansion further solidifies the presence of major European cooperative banking groups in this evolving market. Cointelegraph attempted to obtain a comment from BPCE but did not receive a response prior to publication.
France's Debate on a Wealth Tax Including Crypto
BPCE's launch coincides with an ongoing policy discussion in Paris regarding the taxation of digital assets within France. In October, French lawmakers narrowly approved an amendment that would extend wealth tax regulations to encompass "unproductive assets," which include certain types of real estate, luxury goods, and digital assets held above specific thresholds. This proposal is aimed at individuals possessing more than $2.3 million in qualifying "unproductive wealth," who would be subject to a new flat tax rate of 1%. The current tax system primarily applies to real estate through a progressive structure. If the amendment is passed, digital assets would be incorporated into this expanded taxable base. The measure is still awaiting Senate approval as part of the 2026 budget process. Should this legislation be enacted, France would become one of the first major economies to include cryptocurrencies within a comprehensive wealth tax framework, introducing new considerations for individuals who hold digital assets for the long term.
Investor Insight
The proposed tax in France introduces an element of uncertainty for high-net-worth cryptocurrency holders, even as major banking institutions move to integrate digital assets. This situation highlights a dynamic where regulatory developments and retail adoption are progressing concurrently, though not always in perfect alignment.
Future Outlook for BPCE and Its User Base
If BPCE's rollout proceeds according to its strategic plan, the bank is poised to operate one of the largest bank-managed cryptocurrency trading programs in Europe by the year 2026. The bank's approach—which involves a paid in-app account, direct custody managed by a bank subsidiary, and a gradual onboarding process—reflects a deliberate yet consistent effort by established financial institutions to enter markets that were previously dominated by cryptocurrency-native firms.