February 14, 2020

Bit4Good

Aggregated Cryptocurrency News Feeds

Bitcoin (BTC) and Crypto Giant Binance Hires Ex-Uber Exec to Lead Global Expansion Amid High Demand

Matt Shroder, the former global head of product operations at Uber, is now the vice president of global operations of Binance.

Shroder is expected to help the crypto exchange expand to new markets and scale its services and operations.

Binance co-founder Yi He says the addition of Shroder will push the company to identify local challenges on the ground early on in development, ensuring the highest levels of liquidity.

Binance has been steadily expanding its fiat onramps as it reaches into new markets. The crypto powerhouse recently added support for the Russian ruble.

CEO Changpeng Zhao says that the exchange has been overwhelmed with registrations since it launched its first fiat-to-crypto trading platform, Binance Jersey, last year.

“Binance.je is overwhelmed with registrations. There is a backlog of KYC verifications already. More resources are allocated to reduce it. In the meantime, we appreciate your understanding and patience. The registration prize is FIFO-based, no worries. Just crazy! One thing we do well is underestimating ourselves and the market.”

As the company expands, Zhao says engineers are also focused on fixing lag on its exchanges during times of elevated traffic.

“Parts of the system are still struggling to keep up with the high traffic. Given so many updates per day, not all parts of the system have been live-tested under this load. I guess the good news is: there is very high SUSTAINED demand. Working on it, all hands on deck.”

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