Cryptocurrency Announces €100 Million Investment in France

Cryptocurrency has announced a €100 million ($108 million) investment in France and a partnership with Paris-based business incubator Station F, increasing its presence in Europe as a behemoth of a cryptocurrency exchange.

"France is perfectly positioned to be a leader in this market in Europe," Coin CEO Changpeng Zhao said Wednesday on stage at the Paris Blockchain Week summit, adding that the company already employs about 50 people across the country.

As part of the agreement, the company will benefit from the BNB Chain, NFT Labs and Binance Labs teams, as well as potential partnerships with Binance partners.

"We think this area will allow all those who want to better understand blockchain and cryptocurrencies to enter the web3 world," said Roxanne Varza, Station F.

Zhao also said during the opening keynote at the Paris summit that Coin is rolling out phone-line customer support, starting with Turkish-language support. The startup, which currently offers chat-based help, intends to eventually offer phone-based services in all areas.