French State-Owned Bank Rolls Out $27,000,000 Initiative To Invest in Crypto Projects: Report
A state-backed bank in France is reportedly launching a multimillion-dollar initiative to invest in crypto projects.
According to a new report from Bloomberg, French government-owned bank Bpifrance – which has nearly $110 billion in assets under its management – is rolling out a $27 million crypto venture fund to invest in digital asset startups.
Not only will the fund target projects that offer tokens in return rather than equity, it will also focus on blockchain protocols with “a strong French footprint” within the fields of decentralized finance (DeFi), artificial intelligence (AI), staking and asset tokenization.
Bpifrance deputy CEO Arnaud Caudoux says the bank needs to step up its accumulation strategy to be…
