Binance Announces a €100 Million Investment in France

　　With a €100 million investment in France, Binance cryptocurrency exchange is expanding its regional footprint in the European Union.

　　The decision was announced Wednesday at the Paris Blockchain Week Summit, and the exchange's Chief Executive Officer, Changpeng Zhao (CZ), stated that France possesses the necessary capabilities to lead the EU's Web3.0 liberation.

　　“I think France has one of the most progressive and open-minded governments that could help in developing pro-crypto regulations,” Zhao said, adding that the country is uniquely positioned in terms of regulation and talent.

　　The 100 million euros will be used to support 'Objective Moon,' an initiative developed in collaboration with Paris-based accelerator Station F to foster the development of the country's web3.0 and blockchain ecosystems. Individuals interested in learning more about the coming Web3 world can enroll, and funds raised will also be utilized to support project developers developing novel protocols in the domain.

　　Establishing New Regulatory Benchmarks

　　Binance's involvement in France dates all the way back to last year, when CZ began consulting with French regulators. With the possibility of establishing a regional headquarters in the country as one of his major ambitions, the exchange established an office in Montrouge, a southern suburb of Paris, and employed up to 20 people toward the end of last year. The company intends to expand its workforce to 100 personnel in order to adequately support its continued work in the region.

　　The investment in France is part of Binance's strategy to mend fences with numerous regulators, notably in Europe. Despite the trading firm being sanctioned by the Financial Conduct Authority (FCA) of the United Kingdom and Italian regulators, the Binance CEO stated that the approach to cryptocurrency regulation has shifted in the last year.

　　“We have seen a great shift of attitude towards crypto over the past year. Until last year, regulators were talking in a negative way, while many regulators today approach us with a positive note,” he said on Wednesday.

　　This sets a favorable tone for the company's regulatory actions, and with recent licensing in Bahrain and Dubai, the firm appears to be regaining its regulatory footing, a stunning turnaround from a year ago.

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