Cryptocurrency exchange leader Blockchain.com is gearing up for substantial global expansion, eyeing entry into key markets such as Nigeria and Turkey. As part of this strategic initiative, the company aims to increase its headcount by at least 25% in the first quarter of the upcoming year.
The expansion efforts have already begun with the recruitment of Curtis Ting, former head of global operations at Kraken. Ting’s role involves establishing a new hub for the crypto exchange in Paris and establishing local entities across Europe to comply with evolving regulations.
Previously, Blockchain.com’s European operations were centralized under a London-based entity. However, the company is now poised to acquire various local licenses, enabling it to broaden its services and operations extensively. In a recent interview, Peter Smith, CEO of Blockchain.com, emphasized the significance of this expansion strategy.
Although the company’s LinkedIn page indicates a workforce of 201-500 employees, some sources suggest that the current team working towards realizing Blockchain.com’s vision is around 300 individuals.
We find ourselves in the early stages of a promising period, akin to early spring, signaling the opportune moment to invest in the future,” remarked Blockchain.com CEO. The company’s strategic expansion plan into Nigeria and Turkey is poised to significantly contribute to this forward-looking approach.
The trend of expansive initiatives is not unique to Blockchain.com, as several crypto projects are also making concerted efforts to regain stability after the tumultuous events of 2022, marked by widespread cryptocurrency market downturns.
CoinMENA, a cryptocurrency exchange based in Bahrain, recently announced plans to enhance its operational capabilities in the Emirates, fortifying its position in the rapidly growing digital asset sector of the Middle East. Similarly, Ripple Labs Inc., a prominent player in the crypto payment sector, has decided to extend its ventures into new regions, particularly following the legal challenges it faced with the U.S. SEC.
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In September, Ripple unveiled its hiring plans, with a noteworthy 80% of the new hires expected to be located outside the United States. This pattern suggests a growing trend of crypto-related projects expanding beyond American borders, driven by ongoing regulatory scrutiny on digital assets and their issuers.
