Binance and French Fintech, a nonprofit that promotes financial technology in France, have launched a collaboration to enhance the blockchain and cryptocurrency ecosystems in France and Europe.
Binance will provide $116 million for the creation of a research and development hub in France to recruit talent from across Europe.
As part of the funding, a decentralized ledger technology (DLT) accelerator will be created to fuel startup growth and build out the ecosystem in Europe and France.
Lastly, an online education program is intended to cultivate crypto and blockchain talent in the region.
The French Minister of State for Digital Transition and Electronic Communications, Cedric O, emphasized the importance of the initiative at a conference in Paris.
Also, the founder and CEO of Binance said: “At Binance, we recognize 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 the blockchain and crypto industry.”