Bpifrance Launches $27 Million Fund to Revolutionize Blockchain in France

• Focus on blockchain, not on accumulating Bitcoin
• Strategic investment in technology and digital identity
• Commitment to strengthening the French cryptocurrency ecosystem

Bpifrance, a French government entity, announced a new €25 million (about $27 million) investment to boost the blockchain sector in France. Unlike some traditional approaches, the institution decided not to accumulate Bitcoin, opting instead to directly support cryptocurrency companies with significant influence in the country.

The focus will be on areas such as DeFi (Decentralized Finance), physical networks, tokenization, staking, and multi-layer protocols, as well as artificial intelligence and digital identity systems. This fund, while modest in relation to the global cryptocurrency market of $2,9 trillion, marks a strategic initiative to strengthen the French blockchain ecosystem.

“With this new phase of token investments, Bpifrance reinforces its commitment and expands its support for the development of French entities in the digital assets sector, always in compliance with European regulations,” said Arnaud Caudoux, Executive Vice President of Bpifrance.

Historically, Bpifrance has invested around €150 million in more than 200 blockchain-related startups over the past decade. The new capital will be invested through direct equity investments or through additional funds, whether French or international, on the condition that these funds reinvest at least twice the amount received into the French economy.

Among other initiatives, Bpifrance has supported the Ledger Cathay Capital Fund, a collaboration between Ledger and Cathay Innovation, and has driven the launch of a €100 million venture capital fund for early-stage startups. In addition, the institution has also supported several companies and projects, such as Acinq, a developer of a Bitcoin payment network, Kriptown, a financing platform for small and medium-sized businesses based on digital assets, and DeFi initiatives such as Morpho.