Bpifrance, France’s state-owned investment bank, has launched a $26.95 million fund to invest in locally issued cryptocurrencies that have not yet been listed on exchanges. This investment will help local startups gain traction and contribute to the growth and development of the country’s expanding crypto ecosystem.
Bpifrance Turns Attention to Fledgling Tokens
The fund will focus on supporting small, newly created tokens developed by French teams, providing them with the necessary resources to flourish. By doing so, Bpifrance aims to stimulate innovation and entrepreneurship within the French crypto sector. The main goal of this investment is to grow France’s rising crypto ecosystem, helping its homegrown talent shine on the global stage.
By supporting these new tokens, Bpifrance shows that France is eager to become a hub for blockchain innovation. With the U.S. accelerating its crypto strategy, France aims to stay competitive in the rapidly changing global digital landscape.
In addition to providing financial backing, the fund may also support the exchange listings of these new tokens. This strong support will make French digital currencies visible, credible, and accessible to a broader market, paving the way for their global recognition.
Crypto Adoption Expands in Europe
As the crypto landscape continues to change, Bpifrance’s initiative is stationed to make a lasting impact on the French virtual ecosystem, cementing the country’s position as a hub for innovation and growth.
European countries are also creating a favorable environment for crypto innovation, with notable developments in recent times. For instance, Gemini, a prominent cryptocurrency exchange, has expanded its services to institutional customers in the UK and Switzerland. It plans to scale across the EU in the coming weeks.
BlackRock, the world’s largest asset manager and crypto exchange-traded fund (ETF) issuer, has recently launched a new bitcoin (BTC) ETP in Europe following the massive success of its U.S.-approved BTC investment fund. The latest investment product, BlackRock’s iShares Bitcoin ETP, started trading on major European financial exchanges like Xetra, Euronext Paris, and Euronext Amsterdam on Tuesday, March 25. The funds will trade under the tickers IBIT and BTCN, respectively.
