Overview

Bpifrance, a state-backed investment bank in France, intends to allocate €25 million (approximately $27 million) toward digital assets. This initiative aims to bolster the country’s emerging blockchain sector.

Investment Plans

• The investment will involve purchasing and retaining cryptocurrency tokens linked to decentralized finance (DeFi) initiatives, which include tokenization and staking.

The bank stated on Thursday: “Having the ability to invest directly in digital assets is a significant step forward for Bpifrance and a pioneering initiative among sovereign wealth funds.”

Context

France has been developing its crypto landscape since 2022, establishing itself as a rising hub for cryptocurrency businesses ahead of the European Union’s Markets in Crypto Assets (MiCA) regulations.