France’s state bank earmarks $27M for crypto with ‘strong French footprint’

Quick Summary:

French digital and AI minister Clara Chappaz said public and private financing was “one of the keys to the sustainable positioning of our ecosystem on the international stage.”Bpifrance deputy CEO Arnaud Caudoux said that it was convinced of the growing importance that blockchain companies “will take on in the years to come and want to increase French competitiveness and presence in the digital assets field.”“The US is really accelerating its own crypto strategy, so this is all the more important,” Caudoux said at a press conference, as reported by Reuters.

It added that the plan, supported by the French Ministry of Economy and Finance, was to “promote emerging technologies and strengthen the French blockchain ecosystem.”The global blockchain ecosystem is “currently booming” but the number of French funds taking part is still very limited, it said.

Bpifrance said in a March 27 press release that it would back newly formed projects “with a strong French footprint” where it will receive tokens in return for its investment and will look to fund decentralized finance (DeFi), staking, tokenization and artificial intelligence.

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Article Details

Author / Journalist: Cointelegraph by Jesse Coghlan

Category: Crypto

Markets: United StatesFrance

Topics: Ecosystem Finance Billion French Crypto Blockchain Projects Bpifrance Support Token Tokens

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-03-28 @ 02:42:50 (3 days ago)

News Timezone: GMT -5:00

News Source URL: cointelegraph.com

Language: English

Article Length: 433 words

Reading Time: 3 minutes read

Sentences: 16 lines

Sentence Length: 28 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Coin Telegraph

News ID: 27378753

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