Binance invests 100 million euros in France for the development of the cryptocurrency ecosystem

Binance invests heavily in France

Speaking today at a conference with Cédric O, Secretary of State for Digital Transition, Changpeng “CZ” Zhao, founder and CEO of Binance unveiled a new initiative called “Objectif Lune”. This will bring together 3 major innovation projects in cryptocurrency and blockchain in France.

Funded to the tune of 100 million euros by Binance, this initiative provides for the development of a research and development hub of Binance in France, a blockchain startup accelerator, as well as a new online education program for train future talents in the industry. This educational program will be created in partnership with OpenClassrooms and Ledger.

“At Binance, we recognize the quality of French and European talent in Tech, Crypto and Blockchain, and we are convinced that with the launch of Binance’s major operations and investments in France, we can contribute in a way significant in making France and Europe the world’s leading player in the blockchain and crypto industry, ”Changpeng Zhao added.

To ensure the smooth running of such an initiative, Binance has partnered with France FinTech, a non-profit association that works to promote FinTech players in France, in particular by representing the sector to the public authorities and the regulator. .

“France Fintech believes that France has a unique positioning in terms of regulations, talents and expertise to be the leading player in Europe in the field of decentralized finance. We believe that the collaboration started with Binance today will allow the entire ecosystem to grow significantly in the years to come, ”said Alain Clot, President of France Fintech.

👉 Find our full tutorial on the Binance platform

Binance on the verge of obtaining PSAN registration?

The launch of this initiative is not to be taken lightly. It is clear that Binance wants to get closer to French regulators and settle permanently in the country.

This was not mentioned during the conference, it is quite possible that the largest cryptocurrency exchange platform in the world is on the verge of obtaining the status of PSAN, this precious sesame issued by the Authority. financial markets (AMF) allowing to legally exercise in the territory an activity related to cryptocurrencies.

Although at first glance this program initiated by Binance turns out to be rather positive for the development of the ecosystem in France, the future of local platforms could suffer greatly.

Coinhouse, StackinSat, Paymium, Just Mining or even Deskoin, all these French companies have fought for years to survive in a very restrictive environment, especially when you know the difficulties they had to face to obtain the PSAN registration.

Today Binance arrives in France with an investment of 100 million euros and many local players clearly feel aggrieved by the situation. Part of the ecosystem also protested that one of Cédric O’s only public interventions related to cryptocurrencies took place with a foreign player.

Hello @cedric_o
Too bad not to intervene with an actor 🇫🇷 who respects the regulations.
There is so much talent you could have showcased: @paymium @coinhouse @ledger @BigBlock_DC …
The crypto industry 🇫🇷 is rich and counting on you. @ Adan_asso @FranceFintech https://t.co/UBuMAcQu8y

– Paymium (@paymium) November 2, 2021

👉 Find our full interview with Cédric O about the cryptocurrency industry in France

This article is under development and will be updated with feedback from different players.

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About the author: Clément Wardzala

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Editor-in-chief of Cryptoast, I discovered Bitcoin and blockchain technology in 2017. Since then, I have endeavored to share qualitative content so that the sector is democratized among everyone.
All articles by Clément Wardzala.

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