French State Bank Bpifrance Launches Fund to Invest in Cryptocurrencies
Paris, March 27, 2025 – Bpifrance, France’s state-owned investment bank, announced plans to establish a dedicated fund to invest up to 25 million euros (approximately $26.95 million) specifically in lesser-known cryptocurrencies. This initiative aims to fortify the country’s cryptocurrency sector and support domestic projects within the blockchain ecosystem, a move that signifies France’s growing commitment to advancing digital finance technologies.
Historically, Bpifrance has made substantial investments in blockchain-related projects, totaling around 150 million euros. However, this new fund marks a significant shift as it deliberately focuses on direct cryptocurrency purchases. According to Arnaud Caudoux, the bank’s deputy CEO, the fund will concentrate on smaller, newly issued tokens from French entrepreneurs, aiming to invest before these cryptocurrencies are listed on major exchanges.
"The U.S. is really accelerating its own crypto strategy, making our initiative all the more crucial," Caudoux stated, indicating that Bpifrance had begun its foray into cryptocurrencies ahead of a notable pro-crypto shift in the U.S. Indeed, U.S. policies in favor of cryptocurrencies have been drawing many companies to relocate, a trend that has prompted European officials to express concerns about potential impacts on euro zone financial stability.
The decision to launch this fund has been bolstered by support from the French government. Clara Chappaz, France’s Minister Delegate in charge of Artificial Intelligence and Digital Transition, sees Bpifrance’s efforts as a strong signal of the nation’s ambition to foster a thriving ecosystem for cryptocurrency technologies.
“There are numerous talented engineers and firms in Europe, and it is imperative to retain these companies within our borders,” Caudoux emphasized. The launch follows the European Union’s establishment of comprehensive regulations for cryptocurrencies in 2023, requiring EU-registered companies to obtain authorization to provide services within the bloc.
In addition to investing in cryptocurrencies, Bpifrance also intends to assist these token projects in gaining listings on cryptocurrency exchanges. This strategic move aligns with the bank’s broader mission, which is co-owned by the French state and CDC, the country’s public lender, to direct investments towards initiatives that meet public policy goals.
This latest development not only highlights a shift in France’s approach to cryptocurrencies but also underlines the growing interest in the sector amid worldwide regulatory dynamics. As the cryptocurrency landscape continues to evolve, Bpifrance’s proactive stance may prove beneficial, positioning France as a pivotal player in the global digital finance arena.
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Reporting by Elizabeth Howcroft; Editing by Tommy Reggiori Wilkes and Kirsten Donovan
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