Bpifrance, France's state-backed investment bank, announced Thursday the launch of a €25 million ($27 million) fund dedicated to investing in cryptocurrency and blockchain projects, marking a major step in the country's digital asset strategy.
The new fund will specifically target early-stage French crypto projects and newly created tokens before they are listed on exchanges, rather than established cryptocurrencies like Bitcoin. Key focus areas include decentralized finance (DeFi), tokenization, staking protocols, and artificial intelligence applications.
"By accelerating its token investment strategy, Bpifrance reaffirms its commitment to developing French digital asset players operating within European regulations," said Arnaud Caudoux, Deputy CEO of Bpifrance.
The bank brings substantial blockchain experience, having invested €150 million in over 200 startups during the past decade. Current portfolio companies include Bitcoin payment network Acinq, SME financing platform Kriptown, and DeFi protocol Morpho.
The investment structure requires partner funds to reinvest at least double Bpifrance's contribution back into French projects, maximizing local economic impact. This approach aims to retain domestic talent and technology amid increasing global competition, particularly from the United States.
Clara Chappaz, France's Minister Delegate for AI and Digital Affairs, emphasized the strategic nature of the initiative: "We are taking another step forward to help our national champions scale in a highly competitive sector."
While the €25 million fund represents a modest sum compared to the $2.9 trillion crypto market, it demonstrates France's commitment to nurturing its blockchain ecosystem and positioning itself as a leader in emerging financial technologies.
Through this focused investment approach in pre-listing tokens and French-based projects, Bpifrance aims to strengthen the country's position in the rapidly evolving digital asset landscape while operating within European regulatory frameworks.