Cryptocurrency exchange Binance has hired former Microsoft (NASDAQ: MSFT) Corporate Vice President Rohit Wad as the company’s new Chief Technology Officer.
In a blog post, Binance revealed that Wad has been the CTO for a month and will be tasked with engineering scalable, compliant, and fast Web3 services and solutions.
Furthermore, Wad will be responsible for monitoring the continued security, stability, and liquidity of the exchange. Under his new role, the former Microsoft executive will help Binance comply with the regulatory requirements in the crypto space.
In Wad’s first days at the exchange, Binance noted that the CTO was operating in the background, making observations regarding his new role.
In a separate post, Wad acknowledged that the potential presented by Web3 is immense hence the decision to join Binance.
“While we are still in the early days, there are already technologies that could dramatically simplify these inefficiencies. Web3 is exciting and I am super excited to join Binance to lead the global tech team. Web3 is growing rapidly and so is our team. We have several hundred engineering and product roles open across the globe,” he said.
Wad has previously served as an Engineering Director at Facebook and Google. While at Microsoft, he was instrumental in establishing and developing Microsoft Teams and Skype.
Binance on Web3 hiring spree
In recent months, Binance has beefed up its Web3 team by making strategic hirings. Alongside Wad, the exchange also announced the onboarding of Mayur Kamat, former Agoda VP of Product, as Head of Product.
Kamat has been tasked with Binance’s product strategy, roadmap, and development, pushing for mass crypto adoption and lowering the entry barrier to Web3 technology.
The focus on hiring Web3 personnel highlights the race to get the best talent in emerging technology. Notably, the potential presented by the Metaverse and Web3 has brought competition to leading tech companies.
Furthermore, Binance is moving towards building its reputation in the market after facing regulatory scrutiny from governments and agencies such as the IRS and Interpol.
The bid to get it right with regulators has seen Binance continue to expand globally. As reported by Finbold, the exchange was awarded a Virtual Asset License to operate in Dubai.