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Binance invests EUR 100 million in French startups

Binance invests EUR 100 million in French startups

The crypto exchange announced a partnership with the Paris-based Station F incubator. Startups will get support from BNB Chain, NFT Labs, and Binance Labs teams.

According to The Block, Binance announced a €100 million ($108 million) investment in French startups. During the Blockchain Week summit in Paris, Changpeng Zhao, the company's CEO, announced a partnership with Paris-based incubator Station F as well as the company's expansion in Europe.

Zhao believes that France has a unique potential to become a crypto-industry leader in Europe. Binance has already brought a team of about 50 people to the country. As part of the Station F collaboration, startups can get support from the BNB Chain, NFT Labs, and Binance Labs teams.

Zhao also revealed that Binance is launching trials of customer support via phone, starting in Turkish. Currently, the company's support service works only via text messages. The exchange expects to introduce phone support in all markets in the future.


Binance

Binance is the world's largest cryptocurrency exchange in terms of trading volume (about $2 billion daily). It was founded in 2017 by Changpeng Zhao, and in a couple of years it has grown into an entire blockchain ecosystem representing the whole spectrum of cryptocurrency products and services. These include a decentralized exchange (Binance DEX), a public blockchain with fast execution (Binance Chain) with an add-on for smart contracts and Ethereum support (Binance Smart Chain), an infrastructure development fund (Binance Labs), an information website (Binance Info), a training center (Binance Academy), a research center (Binance Research), and a nonprofit organization for achieving sustainable development goals (Binance Charity Foundation).       

Trading volume: $27.9 billion.

Number of trading pairs (markets): 1643

Legal status: registered in the Cayman Islands

Fiat currencies: over 43 (including USD, EUR, CAD)

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