Share this article
Binance Funds $116M Initiative to Grow French Crypto Ecosystem
The world’s biggest crypto exchange has teamed with nonprofit French Fintech to build a research hub and accelerator.
By Brandy Betz
Updated May 11, 2023, 4:09 p.m. Published Nov 3, 2021, 8:00 p.m.
Make us preferred on Google
Crypto exchange Binance and French Fintech, a nonprofit focused on promoting financial technology in France, have launched an initiative to support the development of the French and European blockchain and cryptocurrency ecosystem.
- As part of the initiative, called “Objective Moon,” Binance will provide €100 million ($116 million) to establish a research and development hub in France that will recruit talent from across Europe.
- The money will also create a decentralized ledger technology (DLT) accelerator to help fuel startup growth and build out the ecosystem in France and Europe.
- Lastly, an online education program aims to develop crypto and blockchain talent in the region. French Fintech and Binance have teamed with crypto security and infrastructure company Ledger on the program.
- “At Binance, we recognize 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,” said Changpeng “CZ” Zhao, founder and CEO of Binance, in the press release.
Read More: Binance Temporarily Disables All Crypto Withdrawals, Cites Backlog
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
More For You
From Wall Street to Web3: This is crypto’s year of integration, Silicon Valley Bank says
From bank-led stablecoins to tokenized T-bills and AI-powered wallets, digital assets will move from pilot projects to financial plumbing this year.
What to know:
- Silicon Valley Bank's Anthony Vassallo says institutional adoption of crypto is accelerating, pushing bigger venture capital checks, more bank-led custody and lending, and deeper M&A consolidation.
- Stablecoins are emerging as the “internet’s dollar,” fueled by clearer regulation and enterprise demand for payments and settlement.
- Tokenized real-world assets and AI-driven crypto applications are shifting blockchain from speculation to core infrastructure, the bank said.
Top Stories
