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France’s state-owned investment bank Bpifrance has announced a €25 million ($27 million) investment plan into digital assets, with the goal of strengthening the domestic blockchain ecosystem.

The initiative marks a significant shift in the bank’s strategy, enabling it to support promising blockchain ventures through direct investments in cryptocurrencies and tokens, rather than just funding startups via traditional equity stakes.

The funds will be channelled into early-stage projects to stimulate innovation within France’s growing Web3 sector.

This move also positions Bpifrance as one of the first sovereign-backed institutions in Europe to enter the digital asset space at this level.

The strategy aims to bridge a longstanding gap in crypto-focused funding among European public investment banks.

Bpifrance’s €25 million allocation comes at a critical time, as the European Union begins implementing its Markets in Crypto Assets (MiCA) regulation.

The framework, which aims to harmonise crypto regulation across the EU, introduces rules for stablecoins, exchanges, and wallet providers.

France has been proactive in embracing the regulation early, using it as a springboard to attract top Web3 firms.

Since 2022, Binance, Crypto.com, and Circle have set up European hubs in Paris, lured by a combination of regulatory clarity and government-led initiatives to promote blockchain adoption.

Bpifrance has already been involved in the ecosystem through equity investments in startups, including crypto custody firm Ledger.

However, this new push marks its first foray into direct investments in digital assets—such as tokens—which allows it to engage more closely with blockchain protocols at the infrastructure level.

Bpifrance’s announcement follows a broader trend among sovereign wealth funds and state banks cautiously entering the digital asset landscape.

While Gulf states like the UAE have expressed interest in tokenised assets and blockchain infrastructure, few have committed direct capital into tokens.

By becoming one of the first state-backed institutions to directly invest in crypto-assets, Bpifrance is positioning itself ahead of peers.

The bank plans to use these funds not only to help French projects scale but also to enhance its own understanding of decentralised systems, which could be valuable for public sector innovation in the future.

The €25 million fund will be deployed in phases, with Bpifrance selecting projects based on their technical potential, contribution to the French Web3 ecosystem, and compliance with the MiCA framework.

The strategy includes both direct token purchases and staking models, allowing the bank to support proof-of-stake networks that align with sustainability goals.

France’s crypto startup landscape has witnessed strong growth, but early-stage projects often struggle to access liquidity.

Bpifrance’s initiative targets this funding gap, offering resources for protocol development, smart contract infrastructure, and decentralised applications built in France.

Unlike traditional venture funding, this direct investment model gives startups greater flexibility to build token-based economies.

It also enables Bpifrance to provide support beyond just capital—such as technical mentorship and regulatory assistance—through its innovation and blockchain acceleration networks.

The approach aligns with France’s broader industrial strategy of nurturing technological sovereignty in key sectors.

The French government has already made moves to support AI and quantum computing through public funds, and Bpifrance’s digital asset initiative adds blockchain to that list.

This €25 million commitment comes as France continues to push for leadership within Europe’s crypto sector.

In 2023, Paris hosted the largest blockchain events in the region, and regulatory sandboxes were expanded to accommodate more decentralised finance and Web3 initiatives.

With the MiCA regulation laying the groundwork for stable and consistent rules, Bpifrance’s plan to invest directly in digital assets gives France a head start in testing these rules with real capital and real protocols.

This could offer insights not only to startups but also to policymakers seeking to balance innovation with investor protection.

The move also puts pressure on other EU countries to follow suit and consider similar public investment strategies.

As digital asset infrastructure continues to evolve rapidly, early engagement from public institutions may prove crucial in setting national priorities and attracting global blockchain talent.

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