Bpifrance, France’s public investment bank, announced in a March 27 statement that it will invest €25 million (around $27 million) in cryptocurrency tied to locally developed blockchain and crypto ventures.
The goal is to support early-stage projects that are rooted in France and show potential for long-term growth. In return for funding, Bpifrance will receive project tokens.
This initiative is backed by the French Ministry of Economy and Finance, and it will focus on areas such as staking, token-based systems, decentralized finance (DeFi), and artificial intelligence (AI).
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Bpifrance noted that French participation in the blockchain industry is still limited. Therefore, it aims to boost innovation while strengthening France’s position in the blockchain industry.
Arnaud Caudoux, Deputy CEO of Bpifrance, stated that the bank sees blockchain playing a larger role in the years ahead. He added that this investment is about increasing France’s visibility and competitiveness in the crypto industry.
At a press conference reported by Reuters, Caudoux also noted that Bpifrance was already active in crypto before the US began pushing forward its own strategy.
Additionally, France’s Minister for Digital and AI, Clara Chappaz, said that combining public and private investment is essential for building a stable and internationally competitive technology industry.
Meanwhile, Atai Life Sciences, a biopharma company listed on NASDAQ, recently decided to invest $5 million in Bitcoin. What does the company hope to achieve? Read the full story.
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