France’s state-owned bank, Bpifrance, announced plans to allocate 25 million euros ($27 million) to purchase cryptocurrencies aimed at supporting local crypto and blockchain projects. This investment strategy focuses on projects with a strong French presence, particularly in areas like decentralized finance (DeFi), staking, tokenization, and artificial intelligence (AI). The initiative, backed by the French Ministry of Economy and Finance, seeks to bolster emerging technologies and enhance the French blockchain ecosystem, which the bank believes is essential for maintaining international competitiveness. Bpifrance’s deputy CEO, Arnaud Caudoux, emphasized the growing importance of blockchain companies, especially as the U.S. accelerates its crypto strategy. The bank has a decade-long record in supporting the blockchain sector, having invested over 150 million euros ($162 million) to date, and it began experimenting with token investments in 2022. Bpifrance's support continues to illustrate its intent to elevate France's visibility in the global crypto landscape, particularly as global interest in blockchain technology rises.

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