France becomes the headquarters of Europe
Establishment of traditional corporate structures
With blockchain technology centers and funding programs for a living ecosystem
With approval in France, the crypto exchange got a foot in the door in Europe. After Dubai, Binance’s hub in the Middle East, France could now become the European headquarters.
Binance founder and CEO Changpeng Zhao (“CZ”) told CNBC that the company plans to establish its European base in Paris. Despite strict regulatory authority, France is “very progressive” towards cryptocurrencies.
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Startup Campus Station F in Paris
STATION F, the world’s largest startup complex in Paris, announced the arrival of Binance in mid-April: “We love France. And this opening is a testament to our commitment. We are around Blockchain, Web.3 and the Metaverse.” We are committed to creating a strong ecosystem to support and support,” CZ was quoted as saying in a Station F press release. France is the Binance base for Europe and they want to use STATION F as a place for innovation and creativity.
Binance France CEO David Prince said in a press release that the company will encourage creative projects and connect entrepreneurs with Binance partners and offices around the world. According to CNBC, Binance is committed to investing €100 million in a Web3 startup in France.
Restructuring plan towards traditional corporate structures
At the Financial Times Crypto and Digital Assets Summit in late April, CZ said that Binance is now moving away from its strategy of operating without entities and offices, and allowing licensed entities in several European countries as well as the United States. Wants to install, reports CryptoMonday.
The organizational restructuring could give the world’s largest crypto exchange the expected success in Europe, as Binance could pursue different, regionally oriented strategies and adjust its services portfolio accordingly. CZ stressed that this move to bring Binance to a traditional corporate structure with a holding company and branches in countries is necessary in order to gain access to the traditional banking system. Binance as a centralized exchange will have to take a step back and follow the traditional structure.
Binance is already pursuing this strategy in the Middle East, where a blockchain technology center is to be built in the Dubai World Trade Center to nurture new talent and build a vibrant blockchain ecosystem.
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