France's Public Investment Bank Bpifrance has announced a $27 million investment aimed at supporting early-stage crypto tokens and enhancing the local blockchain ecosystem. This initiative was revealed during a blockchain event in Paris and is part of Bpifrance's strategy to strengthen France's competitiveness in the digital asset space amidst increasing global competition. The investment will prioritize smaller, newly-issued tokens from French projects not yet available on exchanges. Bpifrance's Deputy CEO, Arnaud Caudoux, emphasized the importance of nurturing local blockchain talent to counterbalance the accelerating crypto initiatives in the U.S. Additionally, the bank has a history of supporting crypto startups, having previously invested in companies like Ledger and Aleph.im. This investment comes at a critical time as France is tightening regulations in the crypto sector, with ongoing scrutiny of major exchanges like Binance. The move signifies Bpifrance's commitment to foster innovation in Web3 and retain talent within the country.

Source 🔗