After news about Harvard’s endowment fund investing in Blockstack’s token sale, the light is green for French life insurance providers to go down the same route. Insurance companies can now invest in cryptocurrencies, following the passage of the new Pacte law in the French National Assembly.
The new law will allow life insurance companies to invest in cryptocurrencies without any cap on the amount that can be allocated to the asset class. A dual provision also allows insurers to invest in crypto through specialised professional funds.
It is good to see more traditional financial businesses gaining exposure to cryptocurrencies. This shows that this new asset class is being increasingly seen as a valuable arsenal in financial portfolios across the globe.