Binance Funds $116M Initiative to Grow French Crypto Ecosystem

The world’s biggest crypto exchange has teamed with nonprofit French Fintech to build a research hub and accelerator.

AccessTimeIconNov 3, 2021 at 8:00 p.m. UTC
Updated May 11, 2023 at 4:09 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Crypto exchange Binance and French Fintech, a nonprofit focused on promoting financial technology in France, have launched an initiative to support the development of the French and European blockchain and cryptocurrency ecosystem.

  • As part of the initiative, called “Objective Moon,” Binance will provide €100 million ($116 million) to establish a research and development hub in France that will recruit talent from across Europe.
  • The money will also create a decentralized ledger technology (DLT) accelerator to help fuel startup growth and build out the ecosystem in France and Europe.
  • Lastly, an online education program aims to develop crypto and blockchain talent in the region. French Fintech and Binance have teamed with crypto security and infrastructure company Ledger on the program.
  • “At Binance, we recognize 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,” said Changpeng “CZ” Zhao, founder and CEO of Binance, in the press release.

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by Block.one; both groups have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.

Brandy Betz

Brandy covered crypto-related venture capital deals for CoinDesk.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.


Read more about