Paris glows with a special intensity on the Web3 and cryptocurrency map in the European landscape of emerging technologies. The strategic vision of France, consolidated by presidential support and the establishment of an advanced regulatory framework, has catalyzed the transformation of the capital into a major hub for sector companies.
The French capital is on its way to becoming the beating heart of cryptocurrencies in Europe, a phenomenon encouraged by strategic policies and an ecosystem conducive to Web3 innovations.
This article is brought to you in collaboration with Jobbio and Jessica Wells.
The Rise of Paris in the Web3 Universe
Under the impetus of Emmanuel Macron, whose ambition to make France and Europe leaders in blockchain technology was clearly expressed shortly before his re-election, France has established itself as a preeminent player in the Web3 field.
The French regulatory landscape, extensive and progressive, is regularly cited as a determining factor in the choice of Paris by giants such as Binance, which has established an office with over 150 people, and Crypto.com, ready to inject 150 million euros into the city. The recent decision by Circle and OKX to choose France as their European hub confirms this trend and underscores the synergy between the availability of specialized skills and the requirements of market leaders.
In addition to the transparency and reliability of its regulatory framework, France has become OKX’s European hub due to the presence of numerous crypto enthusiasts and experienced traders on its territory, as well as a highly skilled workforce, which is essential for OKX’s growth.
OKX
According to OKX, France stands out for the transparency and reliability of its regulatory framework, the presence of numerous enthusiasts, not to mention a high level of workforce. This favorable situation is reinforced by the presence of leading French players such as Sorare and Ledger, enhancing Paris’ status as an essential metropolis in the Web3.
The Regulatory and Cultural Assets of Paris
France, with the Autorité des marchés financiers (AMF) at the helm, has taken the lead in welcoming innovative projects by issuing over a hundred PSAN registrations in three years and preparing the ground for the MiCA regulation. The latter could facilitate the operability of crypto companies throughout the European Union as early as the end of 2024, with a clear inspiration drawn from the French regulatory experience.
To complement this strategy, France has launched the French Tech Visa, simplifying the immigration of Web3 talents and affirming its ambition to attract the best global expertise. This visa, available in several categories and automatically extending to the families of beneficiaries, is a cornerstone of French attraction policy.
A comprehensive portal, called ‘Welcome to la French Tech’, was launched during the summer of 2021, offering a centralized and streamlined platform aimed at facilitating the arrival and integration of technology experts from around the world wishing to settle in France.
The transformation of Paris into a crypto hub extends beyond companies and finance; it also touches traditional businesses and culture. Institutions such as Société Générale and PMU have explored the Web3 and NFT domain. The Musée d’Orsay has partnered with industry partners to integrate blockchain into its activities, attesting to the scale of this digital revolution.
In addition to these advancements, Paris has become the venue for major events such as NFT Paris, the Paris Blockchain Week, and the Ethereum Community Conference, further anchoring the city as a gathering place for Web3 experts and enthusiasts.
Paris: The New European Capital of Web3?
With its unique blend of political support, advanced regulation, and cultural vitality, Paris is strategically positioning itself to become the European center of Web3 and cryptocurrencies. The City of Light now attracts not only investors and businesses but also talents eager to shape the future of blockchain technology.
Whether you’re an entrepreneur, investor, or technophile, the doors of Paris are open. If you are drawn to the excitement of the Web3, consider the French capital your next professional playground and explore the opportunities that this dynamic city has to offer on our jobs board.
