TechFlow news — On March 28, according to Cointelegraph, French state-owned bank Bpifrance plans to invest €25 million (approximately $27 million) in cryptocurrencies to support local crypto and blockchain projects, including those in decentralized finance (DeFi), staking, tokenization, and artificial intelligence.
In a press release on March 27, Bpifrance stated that the initiative is backed by France's Ministry of Economy and Finance and aims to "promote the development of emerging technologies and strengthen the French blockchain ecosystem." The focus will be on emerging projects with a "strong French identity," and the bank will receive tokens as returns on its investments.
Bpifrance has been active in the blockchain sector for a decade, having invested over €150 million (around $162 million) cumulatively—for instance, funding cryptocurrency hardware wallet company Ledger back in 2014. Additionally, since 2022, Bpifrance has conducted small-scale investment trials using tokens, including a collaboration with DeFi lending platform Morpho.
