The French multinational telecommunications firm Orange SA is looking to invest in Bitcoin startups in the months ahead, making it one of the first big global phone carriers to become interested in blockchain technology, reported Bloomberg.
“There’s something intriguing in this technology, so we want to be there as early as possible,” said Georges Nahon, CEO of Orange Silicon Valley, a division of Orange SA. “This could be a digital platform in the futute.”
Nahon told Bloomberg that his division has been holding Bitcoin events at its office in San Francisco and is talking to two Bitcoin firms. The group can invest $20,000 per startup and is part of an international team that can spend up to $3.2 million per company.
Orange SA recently expanded its venture capital effort with the launch of Orange Digital Ventures. The company said last month that the goal is to have supported 500 startups worldwide by 2020.
“Even though we have a larger internal R&D organization, given the pace of innovation we need to complement our own initiatives and projects with what the outside world is doing,” said Nahon to Bloomberg.
Bitcoin logo credit: Sirius