Bitcoin (BTC) exchange Binance to spend €100M on a crypto and blockchain ecosystem in France

Thu 04 Nov 2021 ▪ 20h48 ▪ 3 min read — by Mary Anderson

Despite this year’s problems with regulators, Binance, the world’s largest crypto exchange, continues to lead the development of the cryptosphere. Binance announced a €100 million (~£850,000) initiative, which will contribute to the growth of the blockchain and crypto ecosystem in France.

As reported by coingape.com, the initiative “Objective Moon” will focus on three key blockchain and crypto projects. It includes the creation of a Binance Research and Development hub in France, Decentralised Ledger Technology (DLT), and an online Education Programme.

The Education Programme aims to nurture crypto and blockchain talents. It will be implemented in partnership with Ledger crypto wallet developers and OpenClassroom. 

The support will also include the development of a Decentralised Ledger Technology (DLT). Since DLT is considered a critical tool for ensuring the security of the blockchain, it is extremely important with the ever-growing popularity of crypto.

Alain Klot, Chairman of France Fintech, said: “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.”

The “Objective Moon” business accelerator

The “Objective Moon” accelerator will focus on the development of the DLT ecosystem in France and Europe. Binance will recruit talented specialists from all over Europe to work in the French Research and Development hub. Founder and CEO of Binance Changpeng Zhao noted: “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.”

Since Binance is struggling to comply with regulatory requirements, this initiative can contribute positively to the crypto exchange ratings and make the interaction with regulators easier.

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Mary Anderson

I am sure that crypto assets are a new type of economy. We are at the origins of the crypto revolution. Right now, it is worth studying what cryptocurrencies and the blockchain are in order to make the most of this knowledge and these skills in the future.

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.

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