The French state-owned investment bank, Bpifrance, plans to set up a €25 million fund to invest in lesser-known cryptocurrencies, supporting the country's infrastructure.
Bpifrance's Plans for Cryptocurrency Investment
Bpifrance, known for investing €150 million in blockchain projects, plans direct investments in digital assets for the first time with a dedicated fund.
Focus on Smaller Tokens and French Projects
The fund aims to acquire younger and newly created tokens issued by French projects before their official listing on cryptocurrency exchanges. It may also facilitate token projects to get listed on exchanges.
Strategic Importance and Bpifrance's Objectives
Bpifrance, owned by both the French state and the country's public lender CDC, is used widely for serving French public policy. The significance of having its own ecosystem is crucial amidst the growing U.S. interest in cryptocurrencies, which could impact the euro-zone's financial stability.
Bpifrance's new investments aim to support the domestic crypto market, fostering a sustainable digital asset ecosystem in France.
