BPCE, a French bank with a reputation for excellence in the banking industry is preparing its millions of retail clients to trade digital assets. This will make BPCE one of Europe’s first traditional banks to do so.
A report The Big Whale group allows users to trade Bitcoin and buy it (BTCEtherETH), Solana (SOLUSDC) (USDC) directly inside its Banque Populaire and Caisse d’Épargne mobile apps starting Monday.
The initial rollout will cover clients of four regional banks, including Banque Populaire Île-de-France and Caisse d’Épargne Provence-Alpes-Côte d’Azur, reaching roughly 2 million customers. BPCE will gradually extend its service to the remaining 25 regional banks through 2026. This would allow crypto trading to be available to all 12 million retail customers.
The Big Whale reported that a bank insider told them the approach was intended to be phased. “monitor how the service performs at launch” before scaling.
Related: EU plan would boost ESMA powers over crypto and capital markets
BPCE launches paid-for in-app cryptocurrency accounts
The report states that crypto sales and purchases will take place through a special digital asset account, administered by Hexarq – BPCE’s subsidiary for cryptocurrency. According to the report, there is a monthly charge of 2.99 euros and 1.5% per transaction. The minimum amount for each trade will be $1.16. The service will not require users to use external exchanges, or wallets from third parties.
BPCE is taking this step as there’s a growing competition in Europe between traditional bankers and cryptocurrency-friendly fintechs like Revolut Bitstack Trade Republic Bitstack, Deblock.
A number of European institutions took similar measures. BBVA allows Spanish customers The app allows users to purchase, hold and sell Bitcoin and Ether, all backed up by its own custody. Santander’s digital arm Openbank offers trading and custody Raiffeisen Bank Vienna’s unit has partnered up with Bitpanda for five crypto currencies. bring crypto services Retail clients are offered a wide range of products and services.
Cointelegraph contacted BPCE but received no response before publication.
Related: Telegram CEO Pavel Durov free to leave France as travel ban lifted: Report
France taxes crypto currencies “unproductive wealth”
Last month, French lawmakers narrowly approved an amendment The wealth tax would be extended to include “unproductive assets,” Included are luxury goods, real estate and cryptographic assets.
Individuals with more than $2.3 Million in assets are eligible to apply for the new amendment. “unproductive wealth” A new 1% flat tax would replace the current progressive wealth tax for real estate. Digital assets are included in the expanded tax base. This proposal will need to pass through the Senate during the budget 2026 process.
Magazine: 2026 is the year of pragmatic privacy in crypto — Canton, Zcash and more
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: cointelegraph.com
