Binance aims to expand its presence in France following its November investment.
Changpeng Zhao, CEO of the leading cryptocurrency exchange Binance, praised France for its pro-crypto stance.
CZ made the remarks during the annual Paris Blockchain Week Summit on Wednesday. He praised France for its crypto-friendly regulations and announced that Binance has secured a space at the Paris startup incubator Station F. He said;
“France is uniquely positioned to become a leader in this industry in Europe. France is very pro-business and pro-crypto in its regulations. The French government’s attitude toward this industry is exceptional.”
Binance has received a warm reception in France, and CZ said the exchange plans to expand its base in the country. He added;
“France is uniquely positioned to be a European launchpad for this industry. Starting in France as a launch base for Europe, we aim to use this space as our creative and innovative hub.”
Station F is the world’s largest startup incubator. It hosts more than a thousand startups and counts elite partners among its network, including major technology companies.
Binance securing space at Station F means selected startups will receive free accommodation and access to various resources within the building during their incubation period.
In addition, chosen projects will gain access to support from Binance’s teams and partners.
Binance may establish a formal headquarters in France. For years, the exchange has maintained that it does not have a physical headquarters. However, as Binance grows, regulators have increased pressure on the company.
The firm is now working to establish a physical presence in a single country, and France has emerged as a leading candidate.
In November last year, Binance invested $100 million in France’s growing blockchain ecosystem. The exchange remains the largest cryptocurrency platform in the world, processing nearly five times the daily trading volume of the next largest exchanges.