The world’s leading blockchain ecosystem and digital asset exchange platform Binance has been granted regulatory approval in France for crypto trading. According to the latest blog post by Binance, it is now an approved Digital Asset Service Providers (DASP) in France. The platform will be responsible to facilitate the sale, exchange, and purchase of cryptocurrencies and digital assets.
The Authority of Financial Market (AMF, Autorité des marchés financiers) of France will keep a close eye on the Binance operations within the country. It will enable Binance to offer trading and custody of digital assets and cryptocurrencies including Bitcoin. Also, Binance is the first crypto exchange platform to get AMF approval in Europe.
Binance CEO, ‘CZ’ has planned to invest 100 million euros worth USD 105.51 million in the development of the in-house crypto-related project in France. Also, 2 million euros has been granted for the refurbishment of a room at Chateau de Versailles. CZ has also supported the President of France Emmanuel Macron on his Twitter handle.
Through the Binance crypto trading platform, users can trade more than 500 cryptocurrencies. It supports crypto-to-crypto trading and currently offers 1456 crypto pairs trading, according to Coingecko reports. Needless to say, about the negligible fees charged on the Binance exchange platform whereas it does offer discounts if paid through its native cryptocurrency BNB.
The company is operational in major countries if the Middle Eastern parts of the world including Bahrain, Abu Dhabi, and Dubai. Further, the expansion roadmap does not end here in France. Binance’s unwavering efforts to enter Sweden and Lithuania will be the next groundbreaking headlines. After France, Binance continues its attempt to enter Switzerland, Spain, Netherlands, Portugal, and Austria for its operations.