Binance winks at French regulators with €100 million R&D blockchain project

Rick Steves

The €100 million initiative aims to support the development of the French and European blockchain and cryptocurrency ecosystem.

Binance has launched a €100 Million initiative to create an R&D hub in France in collaboration with France FinTech.

France FinTech is a non-profit association that promotes financial technologies in the country. The NGO partnered with the world’s largest cryptocurrency exchange in a time when Binance looks to deal with its growing pains, namely within the regulatory sphere.

The €100 million initiative aims to support the development of the French and European blockchain and cryptocurrency ecosystem.

Cédric O, Minister of State for the Digital Transition and Electronic Communication in France at the French Ministry of Finance in Paris, was at the launch of the project along with Changpeng “CZ” Zhao, founder and CEO of Binance.

The initiative, “Objective Moon”, will comprise three key cryptocurrency and blockchain innovation projects in France. The funding, provided by Binance, will see the development of its Research and Development hub in France.

The initiative will also include the creation of a Decentralized Ledger Technology (DLT) accelerator and a new online Education Programme to develop blockchain and crypto industry talent in France.

Alain Clot, Chairman of France Fintech, commented : “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.”

CZ, founder & 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.”

The R&D hub in France will serve as a base for Binance to recruit cryptocurrency and blockchain talent in the country and Europe as the digital asset ecosystem becomes an increasingly attractive career opportunity.

The “Objective Moon Accelerator” will be a stepping stone for the upcoming Decentralized Ledger Technology (DLT) ecosystem in France and Europe.

In July, French regulators called EU governments to give the responsibility for overseeing cryptocurrencies to the pan-European markets watchdog, instead of national supervisors.

This is part of a wide-ranging reform that aims to give greater powers to the European Securities and Markets Authority (ESMA), the EU’s regulator based in Paris.

Read this next

Digital Assets

BlackRock digs further into crypto with metaverse ETF

BlackRock, the world’s largest asset manager with almost $10 trillion in AUM, is set to launch a new metaverse ETF to help investors securely monetize on the booming immersive version of the internet.

Digital Assets

Binance wins license in New Zealand as rival Huobi shutters derivatives

Binance, the world’s largest crypto exchange by traded volume, has obtained licenses to operate in New Zealand, even after rival Huobi shutdown derivatives trading last month due to concerns about regulations.

Retail FX

Hong Kong busts perpetrators of ‘ramp and dump’ scam

Hong Kong’s financial watchdog, the Securities and Futures Commission (SFC), has charged thirteen suspects of market manipulation in a joint operation with the local police.

Institutional FX

TradingView integrates market data from German Tradegate exchange

TradingView announced that it ‎has increased data coverage to allow its users to receive information from ‎and get free access to the intra-day and tick data from Tradegate Exchange.

Retail FX

Spotware Systems introduces Custom Push Notifications for cTrader mobile apps

Spotware Systems, a technology provider for the electronic trading industry, is introducing a new push notification feature to alert mobile users of price swings and market fluctuations through their cTrader app.

Market News

The Week Ahead: 30 September from David Madden, Market Analyst at Equiti Group

Sterling dominated the headlines last week, as there were concerns the UK government might struggle to service its debt.

Inside View

How does the quality of signal providers affect your business?

A must-have onboarding process for brokers with investment services like PAMM, MAM, or copy trading

Technology

DBS deploys Nasdaq Trade Surveillance

“The confidence that markets and our clients have in DBS as a safe and trusted banking group is anchored on our ability to detect and respond to anomalous activity, which in turn calls for a robust surveillance and prevention infrastructure.”

Industry News

SEC charges Justin Costello and David Ferraro for securities fraud and posing as billionaire veteran

The Securities and Exchange Commission charged Cannabis executive Justin Costello and David Ferraro, an associate of Costello’s, for promoting the stock of several microcap companies on social media without disclosing their own simultaneous stock sales as market prices rose.

<