In an effort to boost France's cryptocurrency industry, the country's state-owned investment bank, Bpifrance, announced Thursday that it will invest up to 25 million euros ($26.95 million) in obscure cryptocurrencies.

Although the bank has previously invested 150 million euros in blockchain-related projects, including limited amounts of cryptocurrency investments, this is the first time it has established a fund dedicated to directly purchasing cryptocurrencies.

The fund's goal is to acquire smaller, recently developed tokens issued by French projects before they are listed on cryptocurrency exchanges, rather than buying big cryptocurrencies like bitcoin, according to Arnaud Caudoux, deputy CEO of Bpifrance.

Caudoux stated that Bpifrance's entry into the cryptocurrency market began prior to the pro-crypto movement in the US and that this is all the more significant because the U.S. is really speeding up its own crypto strategy. Additionally, Bpifrance could facilitate token projects' listing on exchanges.

Clara Chappaz, the Minister Delegate for France in charge of AI and Digital, stated that Bpifrance's effort is a definite sign of their dedication to positioning France as a leader in these fields.

Since the victory of U.S. President Donald Trump in November, there has been a resurgence of interest in cryptocurrencies. Trump has advocated for the sector, attempted to change regulations, and even introduced his own cryptocurrency goods. However, European finance ministers are worried that the U.S. adoption of cryptocurrencies may have an impact on the financial stability and monetary sovereignty of the euro zone.

According to Caudoux, U.S. regulations are luring cryptocurrency businesses to relocate there. They have excellent engineers and businesses throughout Europe, including the UK, and they wish to retain those businesses because they firmly believe that having their own ecosystem will be crucial in the future.

The world's first comprehensive crypto rules were issued by the European Union in 2023, and they require crypto firms to get EU authorization in order to service clients in the region. The French government and CDC, the nation's public lender, jointly own Bpifrance, which makes investments to further French public policy goals. Last week, France's finance minister declared that the country will establish a defense-focused fund worth 450 million euros. $1 is equivalent to 0.9278 euros.