The French state-owned investment bank is set to invest 25 million euros (approximately $27 million) in digital assets as part of an effort to bolster the nation’s blockchain sector.
They will be acquiring and holding cryptocurrency tokens linked to decentralized finance (DeFi), including tokenization and staking, the organization announced on Thursday.
This initiative aims to provide support for local blockchain projects in their early phases, enhancing the overall blockchain landscape in France.
“The ability to invest directly in digital assets marks a significant advancement for us and positions us as a trailblazer among sovereign wealth funds,” stated the bank.
In 2022, France positioned itself as an emerging crypto center, anticipating the EU’s forthcoming Markets in Crypto Assets (MiCA) regulation, which attracted many notable cryptocurrency firms to establish their European headquarters in the country.