Binance Unveils EUR100 Million Initiative to Build France’s Crypto and Blockchain Ecosystem

Despite several regulatory challenges along the way this year, the world’s largest crypto exchange Binance continues to spearhead development in the blockchain and the crypto space. Binance has announced a EUR100 Million initiative to develop France’s blockchain and crypto ecosystem in partnership with FranceFintech.

The initiative dubbed “Objective Moon” will focus on three key blockchain and crypto projects in France. Funded by Binance, the initiative will have an online Education Programme to nurture crypto and blockchain talent in France. This education program comes in partnership with wallet manufacturer Ledger and OpenClassroom.

It will also focus on the development of a Decentralized Ledger Technology (DLT) accelerator as well as the development of a Binance Research and Development hub in France. Speaking of this development, Alain Clot, Chairman of France Fintech announced:

“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 decentralized finance and we believe that the collaboration started with Binance today will allow the entire ecosystem to grow significantly in the coming years.”

Developing the Objective Moon Accelerator

As said, the Objective Moon Accelerator will focus on developing a DLT ecosystem in France and Europe. As part of establishing the French Hub for Binance’s Research and Development, the crypto firm shall be recruiting talent across France and Europe. Binance founder and CEO Changpeng Zhao said:

“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.”

As Binance has been struggling to meet the regulatory ends, the latest initiative might bring some relief for the crypto exchange in this market.