France BPIFIFRANCE to invest $ 27 million in emerging tokens: Report

France in the state-owned state investment bank, Bpifrance, announced plans to award up to 25 million euros ($ 27 million) to acquire less well-known cryptocurries.

These purchases will be made to enhance the crypto company of the nation, toward For Reuters.

Historically, Bpifrance invested 150 million euros in ventures related to Blockschain, including modest investments in cryptocurrency.

However, this signifies the first bank initiative to establish a dedicated direct purchases of crypto.

French projects crypto

The Bank will focus on the acquisition of newly stored tokens from French crypto projects before they are listed on the main exchange, according to Arnaud Caudouks, Deputy General Manager at Bpifrancija.

Caudouk emphasized the importance of this initiative, especially as the United States accelerates their cryptic strategy. He noticed that Bpifrance’s entry into the crypto space began before the recent American shift.

He also suggested that Bpifrancija could help token for secure exchange projects, giving them stronger strongholds in the global market.

The results of the interest in cryptocurrency is noticeable from the election victory of American President Donald Trump in November. Trump expressed support to the industry, conducted policy reforms, and even presented his crypto products.

In contrast, European Finance ministers set concerns that increasing hugs of CryptoCurri could endanger the eurozone monetary sovereignty and financial stability.

Caudouk mentioned that current American policies draw cryptic companies abroad. He emphasized the importance of retaining the fastening of European engineering talents and companies, stating that the strong domestic ecosystem is “crucial for the future”, according to Reuters.