Crypto exchange Binance is trying to woo France

Binance recently launched a 100-million-euro ($113-million) initiative in France to develop its crypto and blockchain industry. The first part of the plan coincides with the French government’s desire for an open and diverse economy.

The company recently announced the launch of a 100-million-euro ($113-million) initiative in France to develop its crypto and blockchain industry.

“The aim of Objective Moon is really to develop an ecosystem and to nurture and accelerate an ecosystem. You cannot do it alone,” David Princay, Binance’s French GM, told CNBC.

“We need to be also able to capture the talent and to have more capabilities to grow bigger,” he said of plans to open an R&D office. “Having an R&D center is one step that we need to go for our next evolution.”

Princay was tight-lipped on whether the company’s significant investment in France was a precursor to establishing its formal headquarters there; “We have nothing yet to add on that,” he said.

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