Summary
- Bpifrance announced the launch of a €25 million fund focused on token sales by virtual asset startups.
- The fund is said to invest only in startups that offer tokens instead of shares.
- Arnaud Caudoux, Deputy CEO of Bpifrance, stated that they must hasten the execution of a token investment strategy considering the pace of U.S. virtual asset adoption.
On the 27th (local time), Bloomberg reported that the French public investment bank Bpifrance has announced the launch of a €25 million (approximately 39.5 billion won) fund focused on token sales by virtual asset (cryptocurrency) startups. The fund is characterized by its investment exclusively in virtual asset startups that offer tokens instead of shares to investors. Bpifrance explained, "We plan to invest in blockchain projects based in France that deal with DeFi, tokenization, staking, and artificial intelligence." The bank has invested over €150 million in blockchain projects over the past decade. Arnaud Caudoux, Deputy CEO of Bpifrance, commented on this, saying, "Considering the pace at which the U.S. is adopting virtual assets, we determined that we must quickly execute a token investment strategy," adding, "Global virtual asset companies are emerging in response to the new U.S. virtual asset policies." 
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
