France: Commercial Activity

commercial_activityCommercial Activitylimited signalunpopulated▾#

## Commercial Activity French crypto-sector commercial activity showed two disclosed funding events this cycle. Morpho Labs is reported to have raised $175.0m in a funding round reported in June 2026; the reporting source did not independently confirm the round stage, participating investors, or a precise transaction date beyond the reported month, and this detail is carried as vendor-sourced rather than primary-filed. Separately, Spiko is reported to have raised approximately $90m in a Series B round led by New Enterprise Associates, with the raise reported within the thirty days preceding mid-October 2026. As with the Morpho Labs figure, this amount is aggregator-sourced; the precise announcement date was not disclosed in the sourced reporting, though the round stage and lead investor were identified. Both events reflect continued investor interest in French-domiciled crypto-adjacent businesses during a period in which the underlying licensing perimeter (the MiCA CASP regime) had just completed its transition from the national PSAN registration structure. Neither event carries a confirmed primary-source filing at the time of this cycle's research. ## Outlook Given that both figures rest on aggregator or vendor reporting rather than primary filings, the principal open item is independent confirmation — of transaction dates, round stages, and investor composition — should either company or investor issue a primary disclosure. No further commercial events were identified for France this cycle.