{"id":125971,"date":"2025-03-28T03:16:44","date_gmt":"2025-03-28T03:16:44","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=125971"},"modified":"2025-03-28T03:16:44","modified_gmt":"2025-03-28T03:16:44","slug":"frances-state-bank-earmarks-27m-for-crypto-with-strong-french-footprint","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=125971","title":{"rendered":"France\u2019s state bank earmarks $27M for crypto with \u2018strong French footprint\u2019"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsFrance\u2019s state-owned bank says it will spend 25 million euros ($27 million) buying cryptocurrencies that support local crypto and blockchain projects.<br \/>\nBpifrance said in a March 27 press release that it would back newly formed projects \u201cwith a strong French footprint\u201d where it will receive tokens in return for its investment and will look to fund decentralized finance (DeFi), staking, tokenization and artificial intelligence.<br \/>\nIt added that the plan, supported by the French Ministry of Economy and Finance, was to \u201cpromote emerging technologies and strengthen the French blockchain ecosystem.\u201d<br \/>\nThe global blockchain ecosystem is \u201ccurrently booming\u201d but the number of French funds taking part is still very limited, it said.<br \/>\nFrench digital and AI minister Clara Chappaz said public and private financing was \u201cone of the keys to the sustainable positioning of our ecosystem on the international stage.\u201d<br \/>\nBpifrance deputy CEO Arnaud Caudoux said that it was convinced of the growing importance that blockchain companies \u201cwill take on in the years to come and want to increase French competitiveness and presence in the digital assets field.\u201d<br \/>\n\u201cThe US is really accelerating its own crypto strategy, so this is all the more important,\u201d Caudoux said at a press conference, as reported by Reuters. He added that Bpifrance had started to support crypto before the US started its own pro-crypto moves.<br \/>\nBpifrance\u2019s headquarters in Paris. Source: GoogleThe bank said it had backed the blockchain sector for a decade and had invested over 150 million euros ($162 million), notably helping to finance the crypto hardware wallet company Ledger in 2014.<br \/>\nBpifrance said it began testing limited investments through tokens in 2022, including a deal with the DeFi lending platform Morpho to buy its token \u2014 which has grown to be the 12th largest protocol by value at $3.24 billion, according to DefiLlama.<br \/>\nRelated: Bybit removed from French regulator\u2019s blacklist, eyes MiCA license<br \/>\nVenture capitalists often take part in investments paid in tokens. PitchBook expects crypto VC deals to top $18 billion this year, a marked increase from the $13.6 billion raised in 2024.<br \/>\nTypically, a crypto platform that launches a token will allocate a portion of its supply to financiers subject to varying lockup periods where the tokens can\u2019t be sold.<br \/>\nA portion of the token supply is usually immediately given to select public users in order to drum up liquidity, which can cause token values to slide if they cash out.<br \/>\nMagazine: How crypto laws are changing across the world in 2025\u00a0<a href=\"https:\/\/cointelegraph.com\/news\/france-state-bank-bpifrance-buy-tokens-support-local-crypto-firms?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsFrance\u2019s 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&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/125971"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=125971"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/125971\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=125971"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=125971"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=125971"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}