Binance wants to hire for roles in Singapore, as well as 50 new employees in its headquarters in Malta. Despite being only an year-old, the company currently employs nearly 300 people across 39 countries and is targeting additional staff across operations, compliance and customer service.
The expansion comes despite New York State Attorney General Barbara Underwood said on Tuesday that he office had referred Binance and to other exchanges to the state’s Department of Financial Services for possible violation of digital-currency regulations.
She asked 13 major crypto marketplaces for details on their operations, internal controls, and safeguards against market manipulation and fraud, culminating in this week’s referral to the Department of Financial Services.
A spokeswoman for Binance declined to comment on the matter.
Binance’s Chief Financial Officer Wei Zhou stated in an interview: “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.” He added, declining to comment further.
Despite run-ins with authorities in Japan and Hong Kong, Binance is still one of the fastest growing venues to trade cryptocurrencies. Zhou stated that the exchange is also planning to allow users to swap cryptocurrencies into the Singaporean dollar over the next few months. Binance has already launched a fiat-to-crypto exchange in Uganda back in June, and is working on launching one in Singapore that will support the Singapore dollar, with testing starting this week. It currently allows exchange into the Swiss franc and euro in Liechtenstein.
The market’s leading coins have also taken a big hit recently, with Bitcoin having fallen as much as 66% from its December peak. Ethereum is now 85% below its January high, marking a 70% drop so far this year.
Regarding the hiring process, Zhou maintained that despite the rapid growth of tokens traded on Binance – 148 added over the past 12-months and 381 trading pairs—the exchange is turning away the majority of the applicants.
“I think it’s harder to get into Binance than it is to get to Harvard and Stanford. It’s like less than 2-3% acceptance rate in terms of tokens we’re looking at,” he stated.