Binance, a cryptocurrency exchange, has appointed Rohit Wad, a former Microsoft Corporate Vice President, as the company’s new Chief Technology Officer.
Binance disclosed in a blog post that Wad has been serving as CTO for one month and would be responsible for creating scalable, compliant, and speedy Web3 services and solutions.
Additionally, Wad will be accountable for ensuring the exchange’s continuous security, stability, and liquidity. The former Microsoft executive’s new job will include assisting Binance in meeting regulatory standards in the cryptocurrency field.
Binance said that during Wad’s first days at the exchange, the CTO was quietly making notes on his new post.
Wad recognized in a subsequent piece that Web3’s potential is enormous, which prompted his choice to join Binance.
“While we are still in the early stages of development, there are currently technologies in place that might significantly reduce these inefficiencies. Web3 is a fantastic technology, and I’m thrilled to join Binance as the global technology team’s leader. Web3 is developing at a breakneck pace, and so is our staff. We now have several hundred technical and product positions available globally,” he said.
Wad formerly worked at Facebook and Google as an Engineering Director. He was crucial in the establishment and development of Microsoft Teams and Skype while at Microsoft.
Binance is on a recruiting binge for Web3 employees
Binance has bolstered its Web3 team in recent months with targeted hires. Along with Wad, the exchange announced the appointment of Mayur Kamat as Head of Product, a position formerly held by Agoda’s VP of Product.
Kamat is responsible for Binance’s product strategy, roadmap, and development, with the goal of increasing crypto usage and decreasing the barrier to entry for Web3 technology.
The emphasis on recruiting Web3 employees exemplifies the hunt for the greatest talent in developing technologies. Notably, the Metaverse and Web3 have introduced competition to established technology corporations.
Additionally, Binance is attempting to rebuild its market image after regulatory scrutiny from countries and organizations including the IRS and Interpol.
Binance has continued to grow worldwide in an attempt to get it right with authorities. According to Finbold, the exchange has been granted a Dubai Virtual Asset License to operate.
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