French public investment bank Bpifrance has announced its ambitious plans to accelerate its digital asset investment strategy, committing up to €25 million to support French blockchain companies through direct investments in crypto tokens. This move by Bpifrance marks a significant step into decentralized financial markets and underscores France’s determination to lead in emerging technologies.
The announcement was made on March 27 at a blockchain industry event in Paris, attended by Clara Chappaz, Minister Delegate for AI and Digital Affairs. This initiative, backed by the Ministry of Economy and Finance, aims to strengthen the French blockchain ecosystem by focusing on projects with strong local ties. These projects include areas such as decentralized finance, tokenization, staking infrastructure, identity certification, and blockchain-integrated AI applications.
Bpifrance has been a crucial supporter of the French blockchain landscape for almost a decade, having deployed more than €150 million across over 200 startups. Some of the companies that have received equity stakes from Bpifrance include ACINQ, Dfns, Flowdesk, and Arianee. Additionally, the bank has invested in digital asset funds managed by prominent firms like White Star Capital, Cygni Capital, Sparkle Ventures, and Ledger Cathay.
In 2022, Bpifrance ventured into crypto asset operations with small-scale token investments in French protocols Aleph.im and Morpho. These initial forays allowed the bank to develop internal capabilities for managing digital assets, paving the way for the current scale-up involving active participation in decentralized financial markets and deeper engagement with tokenized ecosystems.
Despite rapid international growth in digital asset investment, France’s presence in this space has been relatively limited. With over 1,000 crypto-focused funds managing more than €2.7 trillion globally, Bpifrance’s move signifies one of the first efforts by a sovereign fund to invest directly in crypto tokens and engage with next-generation blockchain infrastructure.
The new €25 million allocation will complement Bpifrance’s existing innovation tools, including grants, loans, and equity investments through its Digital Venture, Large Venture, and French Touch Capital divisions. The ultimate goal is to foster a more competitive environment for French blockchain startups and expedite their growth within the evolving European regulatory landscape.
This bold move by Bpifrance underscores France’s commitment to positioning itself at the forefront of technological innovation, particularly in the realm of blockchain and digital assets. With this increased investment and support, French blockchain companies are poised to make significant strides in the global market, solidifying France’s reputation as a key player in the digital asset space.