Binance to invest 100 million euro in France

Binance is about to invest 100 million euro in France for a program to develop France’s Cryptocurrency and Blockchain related Technology. Let’s learn more about this.

Introduction

The world’s largest Cryptocurrency exchange Binance is all set to invest 100 million Euros (close to $113 million) in an initiative to develop France’s Cryptocurrency and Blockchain related industries. Along with that, the initiative is taken with the help of the French Industry group FinTech.

The initiative is known as Objective Moon. Here, we will see these companies establish a Research and Development office in France. Also, this program will incubate start-ups and provide training programs.

Comments by Binance on their decision to invest 100 million euro in France

David Princay, Binance’s GM of France revealed details about this event in an interview with CNBC. “The aim of Objective Moon is really to develop an ecosystem and to nurture and accelerate an ecosystem. You cannot do it alone,” he said.

“We need to be also able to capture the talent and to have more capabilities to grow bigger,” he said. “Having an R&D center is one step that we need to go for our next evolution” he added.

Involvement of Big organisations in the Program

Ledger, A firm that Manufactures hardware wallet (or cold Wallets) is also involved in the Objective Moon program. A champion in making Cold Wallets, Ledger is a really successful company. Also, this French firm has a value of about $1.5 billion. Along with Ledger, an EduTech company OpenClassroom is also having involvement in the Objective Moon with the objective of developing educational programs related to Cryptocurrencies.

2021 : A turbulent year for Binance

Undoubtedly, 2021 has been the best year for Cryptocurrencies. Additionally, technologies related to Cryptocurrencies have seen quite progress too. Also, with the inception of DeFi and NFTs, Blockchain and Cryptocurrencies have grown quite a bit. However, this year was also the year where countries are joining in for a structured regulatory environment for Cryptocurrencies.

Unfortunately, Binance has been under the radar of regulative scrutiny this year. The biggest Cryptocurrency exchange in the world is lately looking for a place to call it their headquarters.

However, Binance is now actively investing to expand its operations and make a stronghold in the domain of Cryptocurrency. Also, Binance is associating itself with countries like United Arab Emirates and France in different programs related to Cryptocurrencies and Blockchain Technology.

Conclusion

Binance is about to invest 100 million euro in France for a program to develop France’s Cryptocurrency and Blockchain related Technology. Hopefully, this will play as a good move for a more Crypto inclusive society of the future.

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