The state-owned bank of France, Bpifrance, is taking a big step to strengthen France’s standing in the blockchain and cryptocurrency business. The bank has said it will put €25 million ($27 million) into crypto and blockchain projects in France with a “strong French footprint.” The bank is still committed to decentralized finance (DeFi), trading, tokenization, and artificial intelligence (AI), and this project fits in with those goals.
The move comes when the global blockchain ecosystem grows quickly, but only a few funds in France currently work there. With help from the French Ministry of Economy and Finance, Bpifrance wants to bring French blockchain companies to the attention of investors worldwide. This will help them stay competitive in a field where countries like the US are making quick progress.
A Decade of Blockchain Innovation Promise
Bpifrance is not new to the world of blockchain. The bank has supported the blockchain business for over ten years, putting €150 million ($162 million) into different blockchain projects. One of the most important things it did was fund the early stages of the French company Ledger, which makes crypto hardware wallets, in 2014.
Helping Blockchain and AI Emerge
The new $27 million crypto funding plan from Bpifrance will focus on new projects in France, especially those working with DeFi, staking, AI, and tokenization. Bpifrance will receive tokens from the projects it backs in return for its money, a common way for venture capitalists in the crypto industry to make money.
France’s Crypto Future: Global Strengthening
With this latest move, Bpifrance shows its dedication to blockchain technology’s growth, ensuring that French crypto startups have the money they need to fight globally. More private and public investment in the sector will likely come from the bank’s plan, increasing France’s impact on the global blockchain industry.
Conclusion
Venture capital investments in crypto will reach over $18 billion by 2025. Bpifrance’s move puts France at the forefront of new developments in blockchain and digital assets. This investment is more than just a way to make money; it’s also a way for France to ensure it stays at the top of the next wave of financial technology.
