Binance’ new partnership and investment in France: Details

Binance is stepping toward the expansion of its service in France with more than a $100 million investment.

Binance is a first-ranked crypto exchange. Exchange is standing at first rank because of its quality-based secured services. The exchange has its hand in almost every type of crypto-related activity, whether it is crypto or non-crypto-like financial services. 

As per the latest announcement, Binance exchange is stepping toward a partnership with Station F, a Paris-based startup incubator. The main aim of this partnership for Binance exchange is to expand its footsteps more carefully with local players’ support in Europe. Under this partnership, Binance announced an investment of 100 million euros ($108 million). 

Changpeng Zhao, CEO of Binance exchange, passed comment on this partnership and said that Binance will lead France in Europe with unique partners and for this exchange already hired a team of 50 people.

“France is uniquely positioned to be the leader of this industry in Europe….(..)..the company already has a team of about 50 people in the country.”

Under this partnership, Station F will be allowed to use resources of Binance exchange like BNB Chain, NFT Labs, and Binance Labs teams to work on new ideas and related development works in a collaborative approach. 

Roxanne Varza, the director of Station F, said that they will work collaboratively to make the crypto and blockchain industry adapt with a better understanding.

“For all the people willing to better understand blockchain and crypto, we hope this place will help them to enter the web3 world.”

Around three days ago, the Binance exchange secured regulatory approval from the local regulatory body of Abudhabi, UAE for its crypto offerings as a crypto dealer-broker. In the last month, Exchange secured a total of 3 crypto licenses in the Middle East. 

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