Binance shared two important good news with the community. What are the company’s future plans?
Binance Is Now Stronger
Binance has hired Rohit Wad, a 30-year veteran at Silicon Valley firms like Microsoft and Google. Wad as the new Chief Technology Officer Binance will work within. The move comes at a time when Binance, the world’s largest cryptocurrency exchange, is working to expand its role in the mainstream economy. Hiring Wad seems like an important part of that plan.
“Wad will be responsible for engineering scalable, compatible and fast Web3 services and solutions,” Binance said in a post announcing the news.
He will “guide the team in developing products that will gain mass acceptance of crypto and lower the barrier to entry for Web3 technology”.
Wad began his career at Microsoft in the early 1990s, helping build core software products such as Excel and Bing. After working at Google and Facebook, he returned to Microsoft in 2016 to take on the role of Corporate Vice President of Product and Engineering.
Two Big Transfers
Binance announced that it has appointed Mayur Kamat, one of the top executives of Singapore-based travel giant Agoda, as its vice president of new products. Today, it has announced that it has included two important names.
All this, Binance’s CEO Changpang Zhao It comes a month after the company announced that it plans to make a series of acquisitions targeting companies outside the crypto market. “We want to set one or two goals in every economic sector and invest in those goals and try to bring them to crypto,” CZ said.
CZ’s personal fortune is thought to be close to $100 billion. But Binance is grappling with regulatory issues as agencies in the US and around the world investigate allegations of illegal transactions on the exchange and scrutinize its anti-money laundering practices. Last year, the company took aggressive steps to strengthen its reputation by recruiting executives from the IRS, Interpol and the world of politics to show that it takes regulation and compliance issues seriously.