French state-owned bank Bpifrance sets up €25 million fund to invest in cryptocurrencies

According to Reuters, French state-owned investment bank Bpifrance plans to invest up to 25 million euros (about 26.95 million U.S. dollars) to purchase niche cryptocurrencies to support French cryptocurrency projects. This is the first time that Bpifrance has set up a fund to directly purchase cryptocurrencies. Previously, the bank has invested 150 million euros in blockchain projects, but only involved a "small amount" of cryptocurrency investment.