France’s state-owned investment bank, Bpifrance, has announced plans to allocate up to €25 million ($27 million) for the acquisition of lesser-known cryptocurrencies.
These purchases will be made to bolster the nation’s crypto enterprises, according to Reuters.
Historically, Bpifrance has invested €150 million in blockchain-related ventures, including modest investments in cryptocurrencies.
However, this marks the bank’s first initiative to establish a dedicated fund for direct crypto purchases.
French crypto projects
The bank will focus on acquiring newly issued tokens from French crypto projects before they are listed on major exchanges, according to Arnaud Caudoux, Deputy CEO at Bpifrance.
Caudoux emphasized the significance of this initiative, especially as the United States accelerates its own crypto strategy. He noted that Bpifrance’s entry into the crypto space began before the recent U.S. policy shift.
He also suggested that Bpifrance could help token projects secure exchange listings, giving them a stronger foothold in the global market.
The resurgence of interest in cryptocurrencies has been notable since U.S. President Donald Trump’s election victory in November. Trump has expressed support for the industry, pursued policy reforms, and even introduced his own crypto products.
In contrast, European finance ministers have raised concerns that the U.S.’s growing embrace of cryptocurrencies could threaten eurozone monetary sovereignty and financial stability.
Caudoux remarked that current U.S. policies are drawing crypto firms overseas. He stressed the importance of retaining European engineering talent and companies, stating that a strong domestic ecosystem is “crucial for the future,” according to Reuters.
