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Binance To Power €100M European Blockchain And Crypto Ecosystem

Binance founder and CEO, Changpeng “CZ” Zhao. France Fintech and Binance announce new €100M initiative to fuel the French, European blockcha...

Binance founder and CEO, Changpeng “CZ” Zhao.
France Fintech and Binance announce new €100M initiative to fuel the French, European blockchain and cryptocurrency ecosystem. Paris-based France FinTech, a non-profit that aims to promote fintech excellence in France, and Malta-based Binance, a cryptocurrency exchange platform, have announced the initiative to support the development of the French and European blockchain and cryptocurrency ecosystem.

Binance founder and CEO, Changpeng “CZ” Zhao, announced the initiative at a conference with Cedric O, Minister of State for the Digital Transition and Electronic Communication in France at the French Ministry of Finance in Paris. The initiative is called “Objective Moon”. It will comprise three key cryptocurrency and blockchain innovation projects in France.

About France Fintech

Created in June 2015 on the initiative of entrepreneurs, France FinTech is a non-profit association that aims to promote the excellence of the sector in France and abroad and to represent French fintech to the public authorities, the regulator, and the ecosystem. France Fintech brings together French fintech, insurtech, and regtech with the potential to become European or global leaders. 

Around the startups have gathered all kinds of players wishing to support this movement and be recognised as integral parts of the ecosystem: players in technology, investment funds, law firms, audit and consulting, banks, insurance groups, industrial companies, public entities or associations, etc. France Fintech combines more than 60 French companies covering various sub-sectors within digital finance.

How will the funds be utilised?

Funded by Binance, the €100M initiative will be used to develop Binance R&D hub in France, along with the creation of a Decentralised Ledger Technology (DLT) accelerator, and a new online education programme to develop blockchain and crypto industry talent in France. 

Alain Clot, Chairman of France Fintech says, “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 decentralised finance and we believe that the collaboration started with Binance today will allow the entire ecosystem to grow significantly in the coming years.”

Binance’s R&D hub will recruit cryptocurrency and blockchain talent from across France and Europe. And its education programme, created in partnership with OpenClassroom and Ledger, will help people learn more about blockchain and cryptocurrency and see it as an attractive career opportunity.

Binance founder CZ says, “At Binance, we recognise the quality of French and European tech, crypto and blockchain talent, and we are convinced that with the launch of Binance’s major operations and investment in France, we can significantly contribute toward making France and Europe the leading global player in blockchain and crypto industry.”

The “Objective Moon Accelerator” is said to be dedicated to building up the Decentralised Ledger Technology (DLT) ecosystem in France and Europe. DLT is seen as a critical enabler of blockchain security, which is essential as cryptocurrency continues to reach more mainstream audiences.

Brief about Binance

Founded in 2017 by Changpeng Zhao and Yi He, Binance is a blockchain ecosystem and cryptocurrency infrastructure provider with a financial product suite that includes the largest digital asset exchange by volume. 

Binance’s platform claims to provide the world’s most secure exchange for individual and institutional investors and features an “unmatched” portfolio of blockchain products and offerings including, crypto trading and finance, education, data and research, social good, investment and incubation, decentralisation and infrastructure solutions, among others.

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