France’s state bank earmarks $27M for crypto with ‘strong French footprint’
Bpifrance is planning to buy tokens to support local crypto and blockchain projects, including those involved in decentralized finance, staking, tokenization and AI.
France’s state-owned bank says it will spend 25 million euros ($27 million) buying cryptocurrencies that support local crypto and blockchain projects.
Bpifrance said in a March 27 press release that it would back newly formed projects “with a strong French footprint” where it will receive tokens in return for its investment and will look to fund decentralized finance (DeFi), staking, tokenization and artificial intelligence.
It added that the plan, supported by the French Ministry of Economy and Finance, was to “promote emerging technologies and strengthen the French blockchain ecosystem.”
