Binance is looking to expand its presence in France following its investment in November.
Changpeng Zhao, the CEO of leading cryptocurrency exchange Binance, has praised France for its pro-cryptocurrency stance.
CZ said this while speaking at the annual Paris Blockchain Week Summit on Wednesday. He praised France for its pro-cryptocurrency regulation, announcing that Binance is getting floorspace in Paris start-up incubator Station F. He said;
“France is very uniquely positioned to be the leader of this industry in Europe. France is very pro-business, pro-crypto regulations. The government’s attitude towards this industry has been phenomenal.”
Binance has received positive acceptance in France, and CZ said the exchange would expand its base in the country. CZ added that;
“France is very uniquely positioned to be the leader of this industry in Europe. tarting in France as a launchpad for Europe, we aim at using this space as our creative and innovative base.”
Station F is the world’s largest business incubator. It accommodates more than a thousand startups and has some elite partners, including Microsoft, Google and Facebook.
Binance getting a space on Station F means that the company’s chosen startups will get free accommodation and access to various resources in the building during the incubation period.
Furthermore, the selected projects will also have access to support from Binance’s team and partners.
Binance might be looking to establish its headquarters in France. For years, the cryptocurrency exchange had maintained that it had no physical headquarters. However, as Binance grows, regulatory agencies have been clamping down on the exchange.
The company is now looking to set up a physical presence in a country, and France is currently the leading candidate.
Binance invested $100 million in the growing blockchain space in France in November last year. It remains the largest cryptocurrency exchange globally, processing nearly five times the daily transaction volume of other leading exchanges.