Binance announces 100 million euro investment in France
April 13, 2022, 4:38AM EDT
1 min read
Binance has announced a 100 million euro ($108 million) investment in France and a partnership with Paris-based startup incubator Station F as the crypto exchange giant expands its footprint in Europe.
"France is uniquely positioned to be the leader of this industry in Europe," Binance CEO Changpeng Zhao said from the stage at the Paris Blockchain Week Summit on Wednesday, adding that the company already has a team of about 50 people in the country.
As part of the deal, startups will benefit from support from the BNB Chain, NFT Labs and Binance Labs teams to develop their ideas and potential collaborations with Binance partners.
"For all the people willing to better understand blockchain and crypto, we hope this place will help them to enter the web3 world," said Roxanne Varza, director of Station F.
Speaking in the Paris summit's opening address, Zhao also said that Binance is piloting phone line customer support, starting with support in Turkish. The company, which currently relies on chat-based support, hopes to eventually roll out phone-based support in all markets.
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Ethereum had a breakout year in 2021. It’s native asset, ETH’s, market capitalization surpassed $500 billion for the first time. Its network facilitated upwards of $7 trillion value transfer. Non-fungible tokens (NFTs) emerged as another “killer application” that have put its technology on the global stage and caught the attention of the masses.