Binance Launches €100M ‘Objective Moon’ Initiative to Support Crypto Adoption in EU

Leading centralized crypto exchange globally by virtue of daily traded volume Binance has announced the launch of a €100 million fund to support blockchain and crypto development in France and greater Europe. According to Binance through a blog post on its official website, the fund dubbed ‘Objective Moon’ is in partnership with French Fintech.

Notably, French Fintech is a leading non-profit association whose sole mission is to promote FinTech excellence in France. Binance through the ‘Objective Moon’ seeks to increase blockchain technology and crypto-asset adoption in France.

“The “Objective Moon” initiative, which will be funded by Binance, will see the development of a Binance Research and Development hub in France, along with the creation of a Decentralized Ledger Technology (DLT) accelerator – the Objective Moon Accelerator and a new online Education Programme to develop blockchain and crypto industry talent in France. The Education Programme will be created in partnership with France FinTech and Ledger,” the company noted.

Blockchain and the crypto industry have played a major role in boosting the global economy, particularly during the Covid crisis. Moreover, the crypto industry has grown to over $2.8 trillion in the past few weeks, following Bitcoin, Ethereum, and the entire altcoin markets’ breakout.

Speaking on the matter, Binance CEO CZ noted that France and Europe play a major role in crypto and blockchain adoption in the global market. “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 blockchain and crypto industry,” CZ noted in a press release.

Bigger Picture on Binance and ‘Objective Moon’

As the leading crypto company and exchange for that matter, Binance remains under a tight global spotlight as regulations come from far and wide. By partnering with a nonprofit organization from the European region, Binance anticipates convincing regulators and retail investors of the positive side of the blockchain and crypto market.

“France Fintech believes that France is uniquely positioned in terms of regulation, talent, and expertise to be the leading player in Europe in the field of decentralized finance and we believe that the collaboration started with Binance today will allow the entire ecosystem to grow significantly in the coming years,” said Alain Clot, Chairman of France Fintech.

Founded back in 2015, French Fintech has been working on bringing together French fintech companies.

Through the ‘Objective Moon’ initiative, Binance will have market BNB to the greater France and European markets.