Binance will spend US$115 million in France to develop a European crypto ecosystem

Binance CEO Changpeng Zhao announced during a meeting between the French Ministry of Finance and French Minister Cédric O that the global cryptocurrency exchange Binance is launching a 100 million euro (115 million USD) plan to develop blocks in France and Europe Chain and crypto ecosystem. in Paris.

Binance is cooperating with the local financial technology association France FinTech to launch a new program officially called “Objective Moon”. A Binance spokesperson told Cointelegraph that the association will help Binance establish contact with and cooperate with the local financial technology department.

According to the announcement, Objective Moon will establish a Binance R&D center in France. To this end, the cryptocurrency exchange plans to recruit cryptocurrency and blockchain talents from France and Europe.

As part of the 115 million dollar plan, Binance aims to launch a decentralized ledger technology accelerator called Objective Moon Accelerator and an online education program to cultivate new talents for the crypto and blockchain industries. French online education platform OpenClassrooms and encryption hardware provider Ledger will also contribute to the development of the education program.

“French fintech companies believe that France is in a unique position in terms of regulation, talent and expertise, and can become a leader in the field of decentralized finance in Europe,” Alain Clot, chairman of the French fintech company, commented on the initiative. He said that the cooperation with Binance will support the development of the entire ecosystem.

CZ spoke highly of the technology and talents in France and Europe, stating that Binance plans to help France and Europe become global leaders in the blockchain and encryption industry by developing major businesses and investments in the country.

related: Binance launches $1B fund to develop BSC ecosystem

According to reports, Binance is known for its “decentralized” structure and is seeking to establish a headquarters in Europe.As reported by Cointelegraph, the exchange has Set up three subsidiaries in Ireland In September. CZ then told Bloomberg that Binance was looking to “establish some headquarters in different parts of the world.”