Binance to allocate 100 million EUR to development in France

The funds will be used to support promising startups

14.04.2022 - 09:45

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2 min

What’s new? The head of the Binance cryptocurrency exchange, Changpeng Zhao, shared plans to further expand the platform’s operations in Europe. The exchange will allocate 100 million EUR to development in France. Zhao stated this at the Paris Blockchain Week conference.

Source: Twitter.com

What will the funds be used for? The projects on the development will be created in cooperation with the French incubator Station F. It is the largest startup campus in the world, based in Paris. Station F’s participants will receive support from Binance, including project funding.

“For all the people willing to better understand blockchain and crypto, we hope this place will help them to enter the Web 3.0 world,” Roxanne Varza, director of Station F said.

Binance CEO Changpeng Zhao stressed that the exchange’s office in France has around 50 employees and the country has a unique opportunity to become an industry leader in Europe.

What had happened before? In November 2021, Changpeng Zhao, in an interview for Les Echos, announced plans to open a full-fledged headquarters in France. During the interview, he stressed that France had become a “natural choice for a regional and possibly global head office”.

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