Historically, Bpifrance has invested €150 million in blockchain-related ventures, including limited engagements in cryptocurrencies. This new initiative marks the bank's first dedicated fund for direct cryptocurrency acquisitions. Unlike traditional investments in prominent digital assets like Bitcoin, the focus will be on acquiring smaller, newly minted tokens from French projects before their listing on crypto exchanges.
Arnaud Caudoux, Deputy CEO of Bpifrance, emphasized the significance of this move amidst the accelerating crypto strategies observed in other countries. He noted that Bpifrance's foray into the crypto domain began prior to the recent pro-crypto shifts in the United States.
Clara Chappaz, France's Minister Delegate in charge of AI and Digital, lauded the initiative, stating that it underscores France's commitment to becoming a center of excellence for these technologies.
The European Union introduced comprehensive cryptocurrency regulations in 2023, mandating that crypto companies obtain authorization to serve customers within the bloc.
Bpifrance, jointly owned by the French state and the public lender Caisse des Dépôts et Consignations , invests to fulfill French public policy objectives.
This initiative aligns with Bpifrance's broader strategy to support innovative sectors. In March 2021, the bank dedicated €100 million to fintech startups, reflecting its commitment to fostering technological advancements.
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Cryptocurrency