The Binance cryptocurrency exchange plans to broaden its horizons. After receiving approval from regulators in Bahrain and Canada to provide services related to digital assets, she announced that she will be laying her bags even more in France. For this, it supports an initiative of 100 million euros, or 113 million dollars with the France FinTech group.
Make France a global player in the cryptocurrency sector
Binance wants to make France its next territory for the development of its services. It had announced that it was collaborating with the industrial group France FinTech on a project called “Objectif Lune”. The aim of this project is to support the cryptocurrency and blockchain industry of the country through innovation and education.
As part of the project, Binance will soon open a research and development office in France. However, she has not yet specified the city in which this office will be located. All we know is that she will work with startups to train people in the cryptocurrency industry. The company wants to make France and Europe a favorable breeding ground for the development of cryptocurrencies and for this, it has indicated that it will do everything possible.
“Objectif Lune’s goal is really to develop an ecosystem and to nourish and accelerate the process in France and in Europe. You can’t do it alone ”, said David Princay, a Binance official in France.
Why did you choose France?
The Objectif Lune program does not only aim to develop France’s capacity in terms of cryptocurrencies. It also aims to create job opportunities for people who are passionate about digital assets. “We need to be able to spot talent and have more capacity to develop further,” added Mr. Princay. Having an R&D center is a step that we must take for our next evolution ”.
Why did Binance choose France? The firm said that is because France is already making significant investments in the field of FinTech. This sector is growing and, with it, cryptocurrencies are starting to shine. Moreover, the central bank had played an important role in supporting blockchain technology in the past. Binance then sees her as a possible partner with whom she could collaborate in Europe one day.
However, if Binance intends to establish itself in Europe, it will not be unconditional. Last month, the governor of France’s central bank said it needed to put in place strong controls to prevent money laundering by its customers.
The Binance cryptocurrency exchange plans to be more present in the French financial landscape. To this end, it wants to collaborate with the French authorities as well as startups specializing in the field of FinTech. It is in this context that she participates in the Objectif Lune project.
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Luc Jose Adjinacou
Far from having dampened my enthusiasm, an unsuccessful investment in 2017 in some crypto only increased my enthusiasm. I therefore resolved to study and understand blockchain and its many uses and to relay information relating to this ecosystem with my pen.