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Binance’s European Cryptocurrency Ecosystem – $115 Million Investment in France

Binance with collaboration with Fintech France is planning to considerably expand its reach and the crypto ecosystem both in France and Europe, Binance CEO Changpeng Zhao confirmed at a French Conference.

Speaking at a conference in France, Changpeng Zhao, CEO of Binance unveiled the beginning of the $115 million crypto and blockchain venture. 

Binance, the global leading cryptocurrency exchange has introduced the $110 – 115 million project for expanding and growing the cryptocurrency ecosystem in France and the whole continent of Europe. 

The news was made public by the encounter of Changpeng Zhao, Binance CEO, and Cédric O, French Minister in Paris in the Ministry of Finance. 

Binance is introducing a new program called “Objective Moon” in collaboration with France FinTech, a domestic fintech association. Binance will benefit from the association’s efforts to interact with and collaborate with the French financial technology industry.

Per the statement, a Binance Research and Development facility would be built in France as part of Objective Moon. To that goal, the cryptocurrency exchange intends to hire cryptocurrency and blockchain professionals from all throughout France and Europe.

Binance plans to launch a decentralized ledger technology accelerator called Objective Moon Accelerator and an online education program to advance potential talented individuals for the crypto and blockchain industries which are all included in the $115 million project. 

OpenClassrooms, a French online education platform, and Ledger, a crypto hardware provider, will play a major role in the education program’s progress as well.

Alain Clot, the Chair of Fintech stated that “France FinTech believes that France is uniquely positioned in terms of regulation, talent, and expertise to be the leading player in Europe in the field of decentralized finance.” On top of this, Clot stated that the partnership with Binance will advance the progress of the ecosystem as a whole. 

Binance aims to help make France and Europe the world’s top actors in the blockchain and crypto business by establishing its significant operations and investments, per Changpeng Zhao, who praises French and European expertise and talent.

Changpeng Zhao is moving forward with the plans mentioned earlier this year, after having already selected Ireland to develop its three branches, and hinting at future plans to expand the presence of Binance headquarters globally. 

Also read: Despite Binance Investigation, SQUID Token Grows by 600%

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