- Bpifrance launched a €25M fund to buy French crypto tokens before they go public.
- France boosts crypto while investigating Binance and attracting Coinbase as VASP.
Who would have thought that a state-owned bank in France would be so bold as to jump straight into the crypto world? Bpifrance, which has so far been known to be more familiar with financing traditional businesses, has now launched a €25 million fund to invest directly in crypto tokens created by French projects. This move is not just a whim or following a trend.
Bpifrance seems to be really serious about strengthening the local digital asset ecosystem, especially amid the strong flow of investment that often flows abroad.
💥 🇫🇷 French state-owned bank Bpifrance launches €25m fund for new French #crypto tokens. pic.twitter.com/rgDNk9cBD8
— BITCOIN EXPERT INDIA (@Btcexpertindia) March 28, 2025
Bpifrance Jumps Into the Crypto Ring
Different from their previous approach, where they only supported blockchain technology behind the scenes, this time Bpifrance is getting straight into the arena. This fund is designed to buy French tokens before they go public, a kind of state way of booking front-row seats at a local crypto concert.
And considering that over the past decade they have poured more than €150 million into blockchain-related projects, it is clear that this is not a decision made overnight.
Progress on One Side, Scrutiny on the Other
On the other hand, this move comes amid quite complicated conditions. In January, French authorities actually deepened their investigation into Binance, the world’s crypto exchange giant. The alleged violations are serious, spanning from money laundering and financing terrorism to their connections to drug trafficking and tax evasion.
The investigation covers Binance’s activities in Europe from 2019 to 2024. So, while the state is providing encouragement through Bpifrance, there is also an ongoing clean-up effort.
A Friendlier Lane for Digital Pioneers
However, France seems to still want to be a magnet for this industry. Coinbase, for example, has just celebrated its expansion into France after being officially recognized as a virtual asset service provider (VASP) by local authorities.
CNF previously reported that more crypto-friendly regulations have made France one of Europe’s new favorite destinations. This can be likened to opening a special toll gate for digital projects, so that they no longer have to compete for lanes with startups from other parts of the world.
Merging Public Trust with DeFi Agility
Furthermore, the push from the private sector is also increasingly felt. Last year, former French parliamentarian Pierre Person decided to switch from politics to the crypto space. He founded Usual Labs and launched Usual Money, an Ethereum-based DeFi protocol.
They issued two tokens: USD0++ which functions as a liquid bond, and USD0, a stablecoin backed by government bonds. It can be said that this is like combining trust in the state with the flexibility of the crypto world, two worlds that used to feel very far from each other.
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