Bpifrance, a French state-owned investment bank, has announced plans to purchase tokens to bolster local cryptocurrency and blockchain initiatives. The initiative targets projects in decentralized finance (DeFi), staking, tokenization, and artificial intelligence (AI).
Key Investment Details
- Funding Amount: €25 million (~$27 million) in cryptocurrency purchases.
- Objective: Support locally developed, "strongly French-flavored" blockchain ventures.
- ROI Model: Returns will be received in tokens.
The bank emphasized that this program aligns with France’s Ministry of Economy and Finance’s strategy to "promote emerging technologies and strengthen the national blockchain ecosystem."
France’s Blockchain Ambitions
Bpifrance noted that while the global blockchain sector thrives, French funds remain underrepresented. Clara Chappaz, France’s Minister for Digital and AI, highlighted the importance of public-private financing for sustainable international positioning.
Arnaud Caudoux, Bpifrance’s Deputy CEO, underscored blockchain’s growing significance:
"We aim to elevate France’s competitiveness in digital assets. The U.S. is accelerating its crypto strategy—making our proactive stance even more critical."
Past Blockchain Engagements
- Total Investment: Over €150 million ($162 million) since 2014.
- Notable Beneficiary: Ledger, a crypto hardware wallet firm.
- Recent Pilots: Token-based investments since 2022, including a deal with DeFi lender Morpho (now the 12th-largest protocol at $3.24 billion TVL).
Crypto VC Trends
Venture capitalists increasingly opt for tokenized returns. PitchBook projects 2025’s crypto VC deals to surpass $18 billion—up from $13.6 billion in 2024.
Token Distribution Mechanics
- Investor Allocation: Locked tokens with vesting periods.
- Public Liquidity: Early releases to selected users, risking price volatility if dumped.
FAQs
1. Why is Bpifrance focusing on French blockchain projects?
To counter U.S. dominance and foster homegrown innovation in DeFi, AI, and tokenization.
2. How will returns be distributed?
Via project-issued tokens, subject to vesting schedules.
3. What’s Morpho’s role in this initiative?
A DeFi platform Bpifrance previously invested in, now valued at $3.24 billion.
4. Are there risks to token-based investments?
Yes—early sell-offs by public recipients can depress token prices.
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