The United States places its pawns, raining ads favorable to cryptocurrencies and the development of the blockchain ecosystem. France responds: Bpifrance becomes the first public bank to invest directly in cryptocurrencies to support the web3 projects of tomorrow.
A pioneer strategy to support the French blockchain ecosystem
On March 27, on the occasion of an event bringing together blockchain actors in France, in the presence of the Minister Delegate for Artificial Intelligence and Digital, Clara Chappaz, Bpifrance revealed his “new investment strategy in digital assets”.
Concretely, The public bank plans to devote up to 25 million euros to invest in cryptocurrencies (are mentioned the terms “digital tokens”, “crypto-active” and “tokens”) of the French blockchain projects of tomorrow, an initiative supported by the Ministry of Economy and Finance and presented as A first among sovereign funds worldwide.
The allowance allocated to each project will be on a range from 300,000 to 2.5 million euros, for table tours ranging from pre-Seed to series A.
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This strategic turn is in an assertive desire to promote emerging technologies and consolidate France's place as a key player in the digital economyaccording to Bpifrance.
Investments will target projects with a strong French imprint, exploring new economic models based on blockchain, especially in the fields of decentralized finance (DEFI), decentralized physical networks (Depins), tokenization, (re) stuking, layer 1, 2 and 3, artificial intelligence and identity certification.
These investments in tokens will be added to the traditional instruments mobilized by Bpifrance: innovation subsidies, loans, or even equity investments via its Digital Venture, Large Venture and French Touch Capital vehicles.
The ability to intervene directly in tokens, including in decentralized financial markets, will allow the bank to strengthen its expertise on subjects as crucial as the management of on-chain liquidity or the tokenization of assetsaccording to the press release.
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A decade of engagement in French blockchain
Bpifrance is not at his first try. For almost 10 years, the institution has played a central role in the development of the blockchain ecosystem in France, With more than 150 million euros invested in some 200 startups.
Among the companies supported in particular LEDGER, from 2014, as well as companies like ACINQ (one of the main developers of the Lightning Network), Flowdesk (Market Maker), DFNS (Infrastructure Supplier for Wallets) or Arianee (Digital property certificates).
Bpifrance has also participated in several specialized funds such as the White Star Capital Digital Asset Fund or the Ledger Cathay Fund.
In 2022, the bank started a test phase with pilot investments in the crypto sector. In particular, it has taken part in the financing of the Defi Morpho protocol, now classified among the most important in the world with a total locked value of more than $ 3 billion. This experimental phase allowed the bank to validate its operational capacity to manage this type of asset.
This strengthening of the investment strategy is involved in a context of increased international competition. The United States, in particular, accelerated its pro-Crypto policy, as evidenced by recent announcements of the Trump administration around a strategic reserve of Bitcoin and legislative reforms favorable to the sector, in particular concerning Stablecoins.
For Arnaud Caudoux, Deputy Managing Director of Bpifrancethis development makes it all the more urgent the need for France to keep its talents and its companies on the territory.
“” We are convinced of the growing importance that these actors will take in the years to come He says. “” It is essential that France has its own robust ecosystem so as not to leave. »»
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An observation shared by Minister Clara Chappaz, for whom the involvement of public and private funders is a condition sine qua no French influence on the international scene. With this new initiative, Bpifrance wants to confirm its desire to make France a pole of excellence for technologies linked to digital assets.
That Bpifrance can now invest directly in tokens is a notable advance. This testifies to an institutional awareness: cryptos are no longer considered as marginal assets, but as full -fledged financial instruments.
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Source: press release
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