Despite the multiple problems with the financial departments of different countries of the world, the CEO of Binance spoke about his ambitions to create his own crypto exchange headquarters in France.
In an interview with Les Echos, Changpeng Zhao revealed the details of a plan to become a digital asset service provider in France in 2022. In his opinion, this task will take the team from six to twelve months.
Given the fact that today the platform occupies a leading position in the industry, processing about 70% of the total number of transactions involving crypto assets, French authorities may be extremely interested in locating the headquarters of a major financial market player in their country.
Earlier, Binance presented a joint initiative with the local non-profit association France FinTech, allocating 100 million euros (about 114.6 million dollars) to create a research center and incubator for blockchain startups in the country.
According to Zhao, France will be the “natural choice” for both the local and international headquarters of the crypto exchange. Although in the previous month, Reuters stated that Binance is actively looking at Ireland as a “home” for its headquarters.
Binance has repeatedly faced claims from regulators in the UK, Germany, Japan, and other world states, but the head of the exchange remains convinced that the regulation will benefit the entire crypto industry. This confidence is fueled by a strong 600-strong compliance staff that stifles the ire of regulators. And with a total of 3,500 employees, 15% of them are now busy appeasing particularly nervous finance officials.
Zhao stressed that open interaction with regulators will allow the platform to accelerate its growth. He also named 5% of the world's population (about 400 million people) as pioneers who have already switched to digital currencies. Now it is “small enough” to convince the remaining 95% to try out the latest technology in the world of finance.
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