French bank BPCE has become the first large commercial bank in Europe to allow retail customers to trade crypto-assets. This means that BPCE’s retail division, the Banque Populaire and Caisse d’Épargne, millions of customers can now purchase and sell Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and USDC stablecoin directly through the bank’s mobile apps. This is a clear indication of a change in how a large European bank is considering crypto trading in relation to their traditional banking services. This integration represents one of the most significant endorsements of digital assets by a traditional European institution to date.
A Phased Rollout for 12 Million Users
The rollout of our new service will start with an initial testing group of around two million clients spread out across four regional banks – Banque Populaire Île-de-France, Caisse d’Épargne Provence-Alpes-Côte d’Azur, and two other banks. BPCE will gain insight into the service’s performance and receive early user feedback on the service through this initial test with select pilot customers before launching a general rollout of the service to customers.
The long-term roadmap is even more ambitious. The group plans a gradual expansion across its remaining 25 regional entities throughout 2025 and 2026. If successful, this strategy will ultimately put digital asset tools into the hands of the bank’s entire 12-million-strong retail base, making crypto ownership as routine as checking a savings balance.
The Architecture: Fee-Based Security
Rather than forcing users onto third-party exchanges, BPCE has built a native ecosystem through its dedicated subsidiary, Hexarq. This unit received its PSAN (Digital Asset Service Provider) registration from the French markets regulator almost a year ago, ensuring full compliance with current laws.
To maintain this secure environment, the bank is introducing a specific fee structure. Users will pay a flat monthly fee of 2.99 euros (roughly $3.15) for the dedicated digital asset account, supplemented by a 1.5% commission on each trade. The operating expenses associated with BPCE’s Buy Crypto feature will be higher than those charged by most global cryptocurrency exchanges. However, the major selling points of this product are the “one stop shop” convenience for customers as well as the added security of a regulated financial services institution backed by the balance sheet of Europe’s legacy banking system which has a combined total of over €1 Trillion of assets.
Beating Fintech “Challenger” Companies
BPCE’s new strategy can be seen as both an offensive and a defensive strategy against the influx of “Crypto Friendly” Fintechs emerging on the scene. The emergence of neobanks such as Revolut and many of the newer French Fintechs including Bitstack have enabled them to attract Millennial customers with their ability to seamlessly purchase cryptocurrencies. BPCE has taken a big step toward creating a sense of customer loyalty and preventing the potential loss of capital to these digital first competitors by including the functionality to buy Crypto within the core application that customers already use every day.
BPCE is joining a select club of established European giants taking this leap. Spain’s BBVA already allows retail customers to trade Bitcoin and Ether, while Raiffeisen Bank in Austria has partnered with Bitpanda to serve its Viennese clients. Banks that are large institutions are banking on their trustworthiness with their customer base, including those who may not feel comfortable with the volatility or security risks related to an independent digital currency platform.
A New Tax Shadow: “Unproductive Wealth”
Where they are becoming more easily accessible, however, so too is the financial accountability of owning these types of assets within France. Recently, lawmakers approved by a very close vote, an amendment covering how some forms of digital assets will be taxed in the future as “unproductive wealth.” This means that once the proposed future budget 2026 goes into effect, it could be a means to target those individuals with significant net worth (in excess of $2.3 million) who are holding certain forms of digital currency (especially outside of real estate).
Under this proposed rule, a flat 1% tax would apply to net assets in this category. The argument from proponents is that these assets do not fuel jobs or economic circulation. For the millions of retail users now entering the market through BPCE, this legislative environment adds a layer of complexity to their long-term investment strategies.
