tl;dr
France's public investment bank, Bpifrance, has announced plans to invest $27 million (€25 million) directly into tokens and decentralized technologies to strengthen the French blockchain ecosystem. The investment aims to support French crypto startups and local venture capital players in Web3, targ...
Bpifrance, France's public investment bank, has announced plans to invest $27 million (€25 million) directly into tokens and decentralized technologies to strengthen the French blockchain ecosystem. The investment aims to support French crypto startups and local venture capital players in Web3, targeting blockchain-native models such as DeFi, staking, tokenization, Layer 1–3 protocols, AI-driven tools, and digital ID solutions.
It represents one of the first moves by a major state investment bank to purchase open-market crypto tokens—a “pioneering initiative,” as Bpifrance put it. Bpifrance will specifically target “smaller, newly-issued tokens” from French projects—assets that have yet to be listed on exchanges. This move is seen as a response to the U.S.'s accelerating crypto strategy, with a focus on retaining and nurturing blockchain talent within France.
Bpifrance has a history of backing crypto, having previously invested in companies like Ledger, Aleph.im, Morpho, and ACINQ. The bank is now broadening its support to explore zero-knowledge proofs, noting their potential to verify authenticity in a world dominated by AI-generated content.
While France's crypto momentum grows with Bpifrance's initiatives, the country faces increased regulatory scrutiny. In January, French authorities launched a judicial investigation into Binance over allegations of money laundering and tax fraud. Additionally, the French gambling regulator, ANJ, began probing Polymarket to assess its compliance with French gambling laws.
France-based tech firm, The Blockchain Group, also made strides in Web3 innovation by purchasing 580 BTC, worth roughly $50.6 million. These proactive initiatives contrast with the regulatory scrutiny faced by the crypto sector in France, posing a challenge to the country's burgeoning crypto momentum.