BPIFRANCE, a French state-owned investment bank, plans to invest 25 million euros ($ 27 million) in digital assets as part of an initiative to strengthen the country’s blockchain industry.
The bank will buy and keep the crypto -tokens related to decentralized funding (defi) tookenization, efforts and efforts, it said Thursday.
The plan is for investments to support local blockchain projects in their early stages to improve the wider blockchain industry in France
“Having the ability to invest directly in digital assets is a significant step forward for BPIFRANCE and a groundbreaking initiative among sovereign wealth funds,” the bank said.
France emerged as a budding crypto-hub in 2022 when it tried to prevent the introduction of the European Union’s markets in Crypto Assets (Mica) regulation and tempted a number of prominent cryptocurrency companies to make the country their European base.
