Hassan Maishera
Binance Allocates 100 Million Euros to Crypto Development in France
Binance, the world’s largest cryptocurrency exchange, wants to make France and Europe the center of the crypto space. The exchange has launched a new initiative to support cryptocurrency development in the country.
In a press release a few hours ago, France FinTech, a leading non-profit association, said it has partnered with Binance to launch a EUR100 Million initiative to support the development of the French and European blockchain and cryptocurrency ecosystem.
France Fintech said, “The EUR100 million initiative, which will be funded by Binance, will see the development of a Binance Research and Development hub in France, along with the creation of a Decentralized Ledger Technology (DLT) accelerator and a new online Education Programme to develop blockchain and crypto industry talent in France. The education program will be created in partnership with OpenClassroom and Ledger.”
CZ, Founder & CEO of Binance, stated that Binance recognizes the quality of French and European tech, crypto and blockchain talent. The crypto exchange is convinced that with the launch of its major operations and investment in France, it can significantly contribute toward making France and Europe the leading global player in blockchain and crypto industry.
Binance has been one of the leading crypto exchanges in the world since it was launched in 2017. It has a vast presence globally, especially in Europe, Africa and Asia. However, the crypto exchange has encountered numerous regulatory challenges in recent months, especially in Europe.
The cryptocurrency exchange has been accused by numerous regulators of offering unregistered services in some countries. As a result, Binance had to make numerous regulatory changes to ensure that it operates within the purview of the law.
Binance had to discontinue some of its services in Europe and launched some initiatives to get it back into the good side of the regulators. Binance said it will establish a French Hub for its Research and Development, and will recruit cryptocurrency and blockchain talent from across France and the continent
