Binance invests $113M in France; potentially eyes a new HQ

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Binance has solidified a new partnership with France Fintech, a nonprofit association promoting the country’s fintech sector, according to reports made by Yahoo Finance last December 30, 2021. The crypto giant is making moves to improve the cryptocurrency and blockchain landscape of the country by investing $133M in local resources. Binance is also eyeing France for its new headquarters. 

Last November 2021, Binance announced on their blog that they will be launching Objective Moon, a project involving France Fintech that focuses on researching and developing the crypto and blockchain technology in the country and Europe.

An online education program, Decentralized Ledger Technology (DLT) accelerator and the development of a new Binance hub in France are all in the works in Objective Moon. 

Some of the companies involved in the project that will lead the educational initiative include French crypto hardware firm Ledger and edtech company OpenClassrooms. 

Binance CEO Changpeng Zhao also referred to as CZ by his supporters, issued a statement about Objective Moon through the Binance Blog back in November 2021. 

‘At Binance, we recognise 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’. 

In an interview with CNBC last December 30, Binance’s representative in France, David Princay talked about the goals of the project. ‘The aim of Objective Moon is really to develop an ecosystem and to nurture and develop an ecosystem. You cannot do it alone’. 

On the other hand, CZ has also expressed interest in potentially opening a new headquarters for Binance, according to reports made by Yahoo Finance. Although Binance has roots in China, the platform is no longer operating there due to the crackdown on digital currencies and related platforms. The same goes for Singapore since Binance will soon be ceasing operations in the country in early 2022. 

The Objective Moon project and search for a new headquarters is now coming together as Binance solidifies the partnership over a month after announcing it for the first time. There are currently no updates as to how the project will unfold over the next year and whether or not the establishment of Binance’s new headquarters will indeed be built in France. 

Binance continues to be the largest cryptocurrency exchange platform in the world when it comes to daily trading volume. Its latest potential investment and search for a new headquarters in Europe will be a strategic step in a new direction for the crypto giant. 

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