Finance Feeds logo

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.

Subscribe

Read this next

Digital Assets

Crypto.com shuts down its US institutional exchange

Crypto.com has announced plans to discontinue its institutional exchange service for professional customers in the United States as soon as June 21.

Retail FX

ThinkMarkets launches copy trading platform ‘ThinkCopy’

Melbourne-based broker, ThinkMarkets has introduced ThinkCopy, a copy trading platform that aims to provide clients with access to experienced traders and a range of social features.

Retail FX

Robinhood delists Solana, Cardano, and Polygon amid SEC’s crackdown

Commission-free brokerage Robinhood Markets announced on Friday that it would be delisting three crypto tokens from its platform. The decision comes shortly after the U.S. regulators intensified its regulatory actions against major cryptocurrency exchanges.

Digital Assets

US wants Bittrex to settle federal dues before compensating customers

The U.S. government has raised objections to Bittrex’s proposal to compensate its customers, adding to concerns about the resolution of the crypto exchange’s bankruptcy case.

Bittrex
Digital Assets

Binance prepares to suspend US dollar funding after SEC crackdown

Binance.US said it will temporarily suspend US dollar deposits and provided customers with a deadline to withdraw their fiat balances. This decision comes after the US Securities and Exchange Commission (SEC) filed a lawsuit requesting the freezing of Binance’s assets in the country.

Binance.US
Digital Assets

Januar launches real-time payments network to fill gap made by Silvergate and Signature

“To all the entrepreneurs and innovators out there is a clear message: if you are a legitimate European business working with crypto then Januar is here to provide you with the account and payment infrastructure you need to operate successfully and build the financial system of tomorrow.”

Retail FX

Exness’ active clients top 515K as monthly volume hits $3.35 trillion

FX trading volumes are climbing again as economic uncertainty spurred by recent developments over central banks’ policies encouraged speculators to pile back into the market.

Exness Dove
Technology

Danske Bank plans signficant investment in digital platforms

“We have decided to significantly increase our investments in our digital platforms, expert advisory services and sustainability, focusing on the areas where we see the best opportunities for profitable growth.”

Digital Assets

ERD DeFi Lending Platform and USDE Stablecoin Unveiled at EDCON 2023

ERD, the Ethereum Reserve Dollar, is a decentralized lending platform and stablecoin that aims to provide a capital-efficient, decentralized, and stable solution to the challenges faced by the stablecoin industry, introducing a minimum collateralization ratio of 110% and a robust liquidation mechanism.

<
✖