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France becomes the first major European country to authorize the operations of the huge Binance cryptocurrency trading platform

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The company is now registered as a digital asset service provider registered by the French securities market surveillance authority, AMF, which allows it to offer trading and custody services for bitcoin and other cryptocurrencies.

Binance is the largest cryptocurrency trading platform globally. The company handles spot trading volumes of more than $ 14 billion and a volume of derivatives of nearly $ 50 billion in a single day, according to data from CoinGecko.

Authorization makes France the first major European nation to green Binance.

Binance has no official headquarters and once boasted of that. But the company is now trying to make peace with regulators, following a reaction last year from authorities in many countries, including the United Kingdom, Italy and Singapore.

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Binance has been seeking French support lately. The company’s founder and CEO, Changpeng Zhao, gave a presentation at a crypto industry event in Paris last month to launch a new acceleration program for so-called “Web3” start-ups.

The company has also pledged to invest 100m euros in the country.

Changpeng Zhao, CEO and founder of Binance, described France as “very progressive” in crypto adoption.

“In our interactions with them, they are much more advanced in their understanding and they are also much more progressive in their attitudes. They are very strict, France has a very strict regulatory body. But they have advanced agreements to go with that, “he told CNBC.

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