2 days ago
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TLDR
- France’s state bank Bpifrance will invest €25 million ($27M) in cryptocurrency projects with “strong French footprint”
- The bank will focus on DeFi, staking, tokenization, and AI-related blockchain projects
- Bpifrance has already invested over €150 million in blockchain over the past decade
- This initiative is supported by France’s Ministry of Economy and Finance
- The bank cited increasing US crypto activity as motivation for strengthening France’s position
France’s state-owned bank Bpifrance has announced plans to invest 25 million euros ($27 million) in cryptocurrency and blockchain projects with a “strong French footprint.” The announcement came on March 27, 2025, during an event that brought together the French blockchain community.
The investment will focus on several key areas in the growing blockchain sector. These include decentralized finance (DeFi), staking services, tokenization platforms, and artificial intelligence projects built on blockchain technology.
This new initiative has received full support from the French Ministry of Economy and Finance. It represents part of a broader strategy to promote emerging technologies and strengthen France’s position in the global blockchain ecosystem.
Bpifrance has been active in the blockchain space for nearly a decade. The bank has already invested more than 150 million euros ($162 million) in blockchain projects and supported around 200 French startups in the sector.
One of the bank’s early investments was in Ledger, the crypto hardware wallet company, back in 2014. Ledger has since grown to become one of France’s most successful blockchain companies.
In 2022, Bpifrance began testing limited investments through tokens. This included deals with blockchain projects like Aleph.im and the DeFi lending platform Morpho.
France’s Growing Blockchain Ambitions
Morpho has experienced rapid growth since receiving this investment. It has become the 12th largest DeFi protocol by value, managing $3.24 billion according to DeFiLlama.
The global blockchain ecosystem is expanding quickly. It now includes more than 1,000 investment funds focused on digital assets, with a total market capitalization exceeding 2.7 trillion euros.
Despite this growth, Bpifrance noted that the number of French funds participating in this market remains limited. This new investment strategy aims to change that by encouraging more French players to enter the space.
Arnaud Caudoux, Deputy CEO of Bpifrance, explained the timing of the announcement. “The US is really accelerating its own crypto strategy, so this is all the more important,” he said during a press conference.
Caudoux added that Bpifrance had started supporting crypto before the United States began making pro-crypto moves. The bank wants to “increase French competitiveness and presence in the digital assets field.”
Clara Chappaz, France’s Digital and AI Minister, also stressed the importance of this initiative. She said that public and private financing is “one of the keys to the sustainable positioning of our ecosystem on the international stage.”
The investment approach will involve Bpifrance receiving tokens in return for its financial support. This model is common in venture capital deals in the crypto space, where investors often receive a portion of a project’s token supply.
PitchBook, a market research firm, expects crypto venture capital deals to exceed $18 billion this year. This marks a substantial increase from the $13.6 billion raised in 2024, showing growing interest in blockchain investments.
Bpifrance’s new crypto investment strategy is considered pioneering among sovereign funds worldwide. The bank views it as a way to gain deeper knowledge of asset tokenization and blockchain-based liquidity management.
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