Binance announces 100 million euro investment in France

Binance has announced a 100 million euro ($108 million) investment in France and a partnership with Paris-based startup incubator Station F as the crypto exchange giant expands its footprint in Europe. 

"France is uniquely positioned to be the leader of this industry in Europe," Binance CEO Changpeng Zhao said from the stage at the Paris Blockchain Week Summit on Wednesday, adding that the company already has a team of about 50 people in the country.  

As part of the deal, startups will benefit from support from the BNB Chain, NFT Labs and Binance Labs teams to develop their ideas and potential collaborations with Binance partners. 

"For all the people willing to better understand blockchain and crypto, we hope this place will help them to enter the web3 world,"  said Roxanne Varza, director of Station F. 

Speaking in the Paris summit's opening address, Zhao also said that Binance is piloting phone line customer support, starting with support in Turkish. The company, which currently relies on chat-based support, hopes to eventually roll out phone-based support in all markets. 

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Andrew is Executive Editor for The Block Pro, based in London. He was previously Managing Editor at Bloomberg News and led special projects at Finimize. Follow him on Twitter at @AJRummer.