Bpifrance yesterday formalized the acceleration of its investment strategy in digital assets, with a commitment of up to 25 million euros in digital tokens. This decision, supported by the Ministry of Economy and Finance, marks a turning point in the posture of the French State: from the role of observer-regulator, it becomes an actor-investor in the decentralized economy.
Presented in the presence of Clara Chappaz, Minister Delegate responsible for artificial and digital intelligence, this initiative reflects an assumed political will: structuring a national competitive ecosystem in the web3, and guaranteeing a French presence in emerging technological infrastructures.
“Bpifrance’s initiative is a strong signal testifying to our desire to make France a country of excellence for these technologies,” said Clara Chappaz. “The involvement of funders, public and private, is one of the keys to the lasting positioning of our ecosystem on the international scene. »»
Public doctrine changing
For almost ten years, France has multiplied initiatives to legally supervise cryptocurrencies, through PSAN status, the Pact law, or more recently, the adoption of the European MICA regulation. But these devices remained centered on regulation. Bpifrance’s announcement signs a major inflection: Public power now assumes an active investor role in tokens.
“With the acceleration of its investment strategy in token, Bpifrance reaffirms its commitment and strengthens its support for the development of French actors in the economy of digital assets,” explains Arnaud Caudoux, Deputy Managing Director of Bpifrance.
Concretely, the public bank will be able to invest directly in tokens of French projects linked to decentralized finance, tokenization, with blockchain infrastructure layers (Layers 1 to 3), digital identity or on -board artificial intelligence. An unprecedented capacity for a sovereign actor.
A assertive geopolitical positioning
Globally, more than 1,000 specialized funds are already investing in digital assets, for capitalization exceeding 2,700 billion euros. France, so far marginal in this segment, seeks to fill this deficit. By allowing Bpifrance to intervene directly on the decentralized markets, The State sends a strategic signal: web infrastructure is now considered to be an issue of sovereignty.
This positioning is part of an industrial vision of digital: to create the conditions for the emergence of national champions, upstream of the growth phases, before their capture by foreign capital.
From experimentation to strategic alignment
Bpifrance is not at his first initiative in the web3. Since 2014, the bank has supported more than 200 French blockchain startups, for a cumulative amount of 150 million euros. It has invested in companies like Acinq, Flowdesk or Arianee, and in specialized funds such as Ledger Cathay or White Star Capital. In 2022, she had started a test phase by investing directly in tokens (Aleph.im, Morpho), to experience its operational capacities.
