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Cryptocurrency Exchange Binance On Hiring Spree Despite Bear Market And Heightened Scrutiny

Cryptocurrency exchange Binance is on a hiring spree despite a bear market and heightened regulatory scrutiny. Binance, which is one of the world’s biggest crypto exchanges in terms of trading volume, is planning to hire employees across Europe and Asia.

The exchange intends to hire around 50 new employees in its Malta headquarters and also wishes to hire staff for roles in Singapore. Binance presently has around 300 employees across 39 countries. It is targeting to hire additional employees across operations, customer service and compliance.

Cryptocurrency exchange Binance’s Chief Financial Officer Wei Zhou said during an interview that their goal at present is to continue to grow the ecosystem, not just for cryptocurrency, but also for the blockchain industry. Zhou added that their next target area for growth would be to move into fiat. Zhou said that the exchange is presently looking to acquire projects in the fiat space. He, however, declined to comment further on this.

Zhou also mentioned that Binance is planning to facilitate users to swap cryptocurrencies into the Singaporean dollar in the next few months. The exchange has already launched a fiat-to-crypto exchange in Uganda in June. Binance is in the process of launching another one in Singapore that will support the Singapore dollar. The testing for the same is slated to start this week.

In September, Binance signed an agreement with the Malta Stock Exchange to start a new digital exchange for security token trading. Zhou added that despite the rapid growth of tokens traded on Binance, the exchange is turning down a lot of applications, as stated in the Bloomberg report.

Cryptocurrency exchange Binance apart from managing billions of dollars in funds also puts in significant effort in integrating cryptocurrencies that fit the criteria of the exchange. Thus it needs a highly experienced and talented team. Also, the long and complicated process of token approval needs individuals with experience in the relevant sector in order to evaluate projects based on a wide range of criteria, as stated in the CCN report. The exhaustive work that’s needed while approving and implementing tokens along with the added responsibility to secure the funds of users, demand a large workforce, and hence the exchange is on a hiring spree.

[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]
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Jesmine Rahman holds 15+ years of professional writing experience of working with reputed Indian dailies like the Times of India and the Indian Express. She also holds a rich experience of working as a Senior Technical Content Specialist with a reputed IT company. for 10 years. She writes crypto news on OWLT Market.

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