French Investment Bank Bpifrance allocates €25 Million for Crypto Ventures
Bpifrance, France’s state-owned investment bank, has unveiled plans to invest up to €25 million in lesser-known cryptocurrencies. This move aims to support the country’s crypto industry, as reported by Reuters.
Historically, Bpifrance has invested €150 million in blockchain ventures, including small crypto investments. However,this is the first time the bank is setting up a dedicated fund for direct crypto purchases.
arnaud Caudoux, Deputy CEO at Bpifrance, explained that the bank will focus on buying newly issued tokens from French crypto projects. This will happen before the tokens are listed on major exchanges.
Caudoux highlighted the importance of this initiative, especially as the U.S. ramps up its crypto strategy. He noted that Bpifrance’s involvement in the crypto space predates recent U.S. policy changes.
He also suggested that Bpifrance could assist token projects in securing exchange listings, enhancing their global market presence.
Interest in cryptocurrencies has surged since U.S. President Donald Trump’s election. Trump has shown support for the industry and introduced his own crypto products.
European finance ministers, however, worry that the U.S.’s growing crypto embrace could threaten eurozone monetary sovereignty and financial stability.
Caudoux stressed the importance of retaining European engineering talent and companies. He believes a strong domestic ecosystem is “crucial for the future.”
