Binance boss Changpeng Zhao, nicknamed “CZ”, believes that France can become the web3 champion of tomorrow.
Binance continues to accelerate in France. The Chinese exchange platform, which has 90 million customers, announced on Wednesday the opening of a web space 3 within Station F, to support startups in the ecosystem. This is one of the first realizations of Binance’s “Objectif Lune” program. This program has an envelope of 100 million euros to develop the blockchain and cryptocurrency ecosystem in France.
“France is very pro business, pro web 3, pro crypto. The legislation is very clear and the environment is favorable for the blockchain ecosystem. I think our web 3 space will be very promising,” said Changpeng Zhao, nicknamed “CZ.” the head of Binance, at BFM Business. The latter will also be a guest on our antenna in the BFM Bourse program this Wednesday at 4:00 p.m. as part of the Paris Blockchain Week Summit.
“We love France. And this opening is proof of our commitment. Taking France as a launch pad for Europe, we intend to use this new space as our creative and innovative base”, adds the latter.
Web 3 is an “extremely important economy,” he believes. “This is where the future of the economy is at stake. I believe that France is well on its way to becoming the champion of tomorrow’s web 3. I encourage all crypto companies to explore France, and in particular Paris, as a hub for growth”. .
New offices in Paris
The space will support early stage startups, in areas such as blockchain, web 3 and metaverse. In addition, selected start-ups will be able to stay for free during their incubation period on Station F. They will also be able to benefit from personalized support from Binance affiliates (BNB Chain, NFT Labs or Binance Labs). In the last three years, Binance has invested in 120 startups. With this 3 web space, the platform believes that it no longer has limits in terms of investment. “We will probably double or triple that rate in the next few years. We are only limited by our ability to interface with commercial projects,” CZ notes. Initially, this space will focus on infrastructure and education topics, before focusing on other areas such as decentralized finance (DeFi) and NFTs.
Binance’s presence in France does not stop there. Last November, the platform opened an office in Montrouge and has since hired 20 employees. It expects to hire 100 new employees by the end of the year and open new offices in central Paris. Of the 100 million euros, 2 million euros were invested in the form of sponsorship, to renovate the oeil de boeuf salon at the Château de Versailles.
Binance is still looking to gain PSAN (Digital Asset Service Provider) approval from the AMF, which would bring it into the world of regulated platforms (see the AMF list here), after submitting an application in December 2020.
“We also want to help develop the French regulatory framework for cryptocurrencies. We want to be a fully regulated exchange and we want to attract more mainstream users to the cryptocurrency space,” says CZ.