Global crypto exchange Binance is starting a 100-one thousand thousand euro ($115 meg) initiative to develop the blockchain and crypto ecosystem in French republic and Europe, Binance CEO Changpeng "CZ" Zhao announced in a talk with French Minister Cédric O at the French Ministry of Finance in Paris.

Binance is launching the new initiative, officially named "Objective Moon," in partnership with the local financial technology clan France FinTech. The clan volition assistance Binance connect and work with the local fintech sector, a Binance spokesperson told Cointelegraph.

According to the announcement, Objective Moon would run into the development of a Binance Research and Development hub in France. To this end, the crypto exchange plans to recruit crypto and blockchain talent from beyond France and Europe.

As part of the $115-million initiative, Binance aims to first a decentralized ledger engineering accelerator named Objective Moon Accelerator and an online education program to heighten new talent for the crypto and blockchain manufacture. French republic-based online didactics platform OpenClassrooms and crypto hardware provider Ledger will also contribute to the evolution of the pedagogy program.

"French republic FinTech believes that France is uniquely positioned in terms of regulation, talent and expertise to exist the leading player in Europe in the field of decentralized finance," France FinTech chair Alain Clot commented on the initiative. He said that the collaboration with Binance will support the growth of the entire ecosystem.

Speaking highly of French and European tech and talent, CZ said that Binance plans to help make France and Europe the leading global players in the blockchain and crypto industry by launching its major operations and investments in the land.

Related: Binance to launch $1B fund to develop BSC ecosystem

Known for its "decentralized" structure, Binance was reportedly seeking a headquarters in Europe. As Cointelegraph reported, the exchange had established three subsidiaries in Ireland in September. CZ so told Bloomberg that Binance is looking to ready "a few headquarters in different parts of the world."