Binance Crypto Exchange On A Hiring Spree In Asia And Europe

Binance, one of the biggest cryptocurrency exchanges in the world by traded volume, is looking to hire more staff across Europe and Asia despite the increasingly regulatory scrutiny as well as market crash that saw the prices of most digital assets plummet.

Binance is looking to hire for roles in Malta, where it needs 50 new employees for its headquarters, as well as a number of them in Singapore. The cryptocurrency exchange employs almost 300 people in 39 countries, and is hoping to add more staff across customer service, compliance and operations.

The expansion by this year-old company comes as Barbara Underwood, the New York State Attorney General, said on Tuesday that her office referred Binance alongside other two exchanges to the Department of Financial Services of New York for possible violation of regulations on digital currencies.

The chief financial officer of Binance, Wei Zhou, declined to comment on the matter, but said in an interview that:

“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.” The company is currently looking to acquire projects in the fiat space.

Being one of the fastest growing exchanges despite run-ins with government authorities in Hong Kong and Japan, Zhou believes that the platform will expand to more regions, hiring staff everywhere it sets camp. Currently the exchange is planning to let users swap cryptocurrencies into Singaporean dollar, with test starting this week. As of now, the platform allows exchange into the euro in Liechtenstein and Swiss franc.

The leading coins in the market have taken quite a hit over the past few weeks, with Bitcoin falling as much as 66% since December. On the other hand Ethereum is now about 85% down since its January high, although it has recently began to show some bullish signs.

Despite the speedy growth of coins traded on Binance, where 148 tokens have been added in the last 12 months and 381 trading pairs introduced, Zhou maintains that they are turning away most of the coin applications they get. In his words, he said that:

“I think it’s harder to get into Binance than it is to get to Harvard and Stanford. It’s like less than 2 to 3 percent acceptance rate in terms of tokens we’re looking at.”

In September, Binance entered into a deal with the Malta Stock Exchange, starting a new digital exchange aimed for security token trading.

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