Binance funds a $116 million initiative aimed at developing a crypto ecosystem in France

Crypto exchange Binance, in association with France Fintech, a non-profit company, will aid in the expansion of French and European blockchain networks and the emerging crypto ecosystem in the region.

Binance funds a $116 million initiative aimed at developing a crypto ecosystem in France

Photo by Chris Karidis on Unsplash

Cryptocurrency exchange Binance has partnered up with France Fintech, a non-profit organization to accelerate the adoption of cryptocurrency in France. The $116 million initiative launched by Binance will assist in promoting crypto development in the region. The initiative was first disclosed by Binance’s CEO Changpeng Zhao.

Binance’s new “objective moon” initiative

The new initiative, known as the “objective moon” will see to the development of Binance’s research and development wing in France.

As per the official blog post, the new project aims at establishing three major crypto and blockchain innovation projects- the development of Binance’s R&D department in France, followed by a Decentralized Ledger Technology (DLT) accelerator, and lastly, an online education program to cultivate crypto industry talent in France.

“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.” the official blog states.

Binance has also disclosed its plan to introduce a new online education program, which will be created in coalition with France Fintech. The program intends to assist people who want to learn more about the budding cryptocurrency space and intend to build their careers in this lucrative avenue.

The initiative was first announced at a conference held on November 3, 2021, in the presence of Cédric O, Minister of State for the Digital Transition and Electronic Communication in France at the French Ministry of Finance in Paris.

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