On Wednesday, French financial regulators granted Binance, one of the world’s largest crypto exchanges, a digital asset service provider license.
According to the Autorité des Marchés Financiers (AMF), a French financial market regulator, Binance can now operate its digital asset trading platform in France, which means it can facilitate digital asset custody, allow users to buy and sell crypto, and help users exchange digital assets for each other.
The move is another step in Binance’s European growth, notably in France, which Binance CEO Changpeng Zhao described as “uniquely positioned to be the leader of this industry in Europe” at the 2022 Paris Blockchain Week Summit. Binance already has 50 employees in France, according to Zhao.
Binance invested 100 million euros ($108 million) in Station F, a Paris-based startup accelerator, this month, in addition to hiring former AMF deputy general counsel Stéphanie Cabossioras as a Binance employee.