• Binance hires Microsoft’s top executive to be the exchange’s CTO

  • Binance, a cryptocurrency exchange, has appointed former Microsoft (NASDAQ: MSFT) Corporate Vice President Rohit Wad as its new Chief Technology Officer.

    Binance disclosed in a blog post that Wad has been the CTO for a month and would be charged with developing scalable, compliant, and quick Web3 services and solutions.

    Wad will also be in charge of ensuring the exchange’s continuous security, stability, and liquidity. In his new post, the former Microsoft executive will assist Binance in meeting regulatory standards in the cryptocurrency field.

    Binance observed Wad’s first days at the exchange, noting that the CTO was functioning in the background, making notes about his new role.

    Wad admitted in a subsequent piece that the potential afforded by Web3 is enormous, which drove to his choice to join Binance.

    “While we are still in the early stages, technology that could substantially simplify these inefficiencies are currently available.” Web3 is an amazing project, and I am thrilled to be joining Binance to head the worldwide tech team. Web3 is rapidly expanding, as is our staff. “We have several hundred technical and product positions open all across the world,” 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 hiring binge for Web3.

    Binance has bolstered its Web3 team in recent months through targeted hires. In addition to Wad, the exchange announced the appointment of Mayur Kamat, former Agoda VP of Product, as Head of Product.

    Kamat is in charge of Binance’s product strategy, roadmap, and development, with the goal of increasing crypto usage and lowering the entry barrier to Web3 technology.

    The emphasis on employing Web3 workers emphasizes the competition for the top talent in developing technology. Notably, the potential of the Metaverse and Web3 has created competition for prominent technology businesses.

    Furthermore, after receiving regulatory scrutiny from countries and agencies including as the IRS and Interpol, Binance is working to improve its market reputation.

    Binance has continued to expand globally in order to get it right with regulators. The exchange has been granted a Virtual Asset License to conduct business in Dubai.

    What's your reaction?