Binance unveils $115m European crypto initiative

The initiative will support the development of the European blockchain and crypto ecosystem

                                
A new online education programme will develop blockchain and crypto industry talent in France - Photo: Shutterstock
                                

Binance, currently the world’s largest cryptocurrency exchange by trading volume, has joined forces with France FinTech, a non-profit association whose mission is to promote FinTech excellence in France has announced the launch of a €100m ($115m) initiative to support the development of the European blockchain and crypto ecosystem.

Changpeng Zhao, founder and CEO of Binance speaking at a conference with Cedric O, minister of state for the digital transition and electronic communication, announced the initiative called 'Object Moon'.

The €100m initiative which will be funded by Binance and see the development of a Binance Research and Development hub in France, as well as the creation of a Decentralised Ledger Technology (DLT) accelerator and a new online education programme to develop blockchain and crypto industry talent in France.

The education programme will be created in partnership with OpenClassroom, a France-based online education platform for vocational training.

Binance to recruit crypto and blockchain talent 

The Binance Research and Development hub plans to hire crypto and blockchain talent from across Europe. The online education programme also aims to help people who want to learn more about blockchain and crypto in the region.

Collaboration between Europe and China

Alain Clot, chairperson of France Fintech said: "France is uniquely positioned in terms of regulation, talent and expertise to be the leading player in Europe in the field of decentralised finance and we believe that the collaboration started with Binance today will allow the entire ecosystem to grow significantly in the coming years."

Changpeng Zhao, founder and CEO of Binance 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."

Further reading: Binance hires chief regulatory liaison officer

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