While others still fear the bear, Binance refuses to back down in a power play move to continue dominating the exchange space.
In an exclusive interview with news outlet Bloomberg, CFO Wei Zhou, a recent addition to one of the world’s largest crypto exchanges Binance, stated that Binance currently hires over 300 people from 39 countries around the world. However, despite how large Binance’s team is in comparison to other operating exchanges, Mr Zhou was firm that the current number of employees was too low in order to achieve the company’s goal of not only expanding the exchange but also the crypto ecosystem overall.
While this year has seen a massive influx of regulation crackdowns, constant FUD, scams, heists and a market crash so severe many investments have declined 90% since their all-time highs in late 2017, Binance is refusing to take the market lying down and continues marching on, looking to hire new blood in Singapore and as well as opening 50 new positions in Malta as a staging area for Binance to establish a foothold in the European market.
In early July 2018, Binance reported it had a user base of over 10 million, making it the fastest growing exchange in the world. This coupled with Changpeng Zhao’s comments stating the exchange plans to offer a multitude of fiat-to-crypto exchanges across the globe. Many believe that these announcements and publicity has created the surge of new positions as the exchange continues to draw attention from all sides.
In the recent interview, Mr Zhou stated “Our goal right now is to continue to grow the ecosystem, not just for cryptocurrency, but for the blockchain industry as well. The next area of growth, in addition to the crypto-exchange, is the move into fiat.”
In June this year, Binance launched its first fiat-to-crypto exchange in Uganda and is currently preparing a full scale roll out of another fiat-to-crypto exchange in Singapore that will support the Singapore dollar. For those fortunate, Binance currently allows exchange into the Swiss franc and Euro in Liechtenstein.