Cryptocurrency exchange giants, Binance have appointed former Uber head of product operations, as the vice president of global operations of Binance. Matt Shroder is now lead as the Vice President of Global Expansion Operations for Binance. Shroder’s role at Binance is to help the company to expand its services and operations, especially in the new markets.
Moreover, the co-founder of Binance Yi He, said that Shroder’s appointment will aid the exchange in noting local challenges early during development; guaranteeing the highest levels of liquidity.
“Shroder is able to anticipate local challenges on the ground and how [Binance] can better serve people at a local level across the globe," said Yi He.
In addition, Binance has used fiat currencies to enter new markets before. As part of its usual strategy, the exchange giants have added support for the Russian Ruble on its peer-to-peer platform; on top of slashing trading fees for Russia citizens on select digital currencies. Nevertheless, Binance intends to establish a developers office in Russia.
Prior to joining Binance, Shroder served a number of roles at Uber since he joined back in 2013. Shroder highlighted that both companies have similarities. He noted that both entities are international firms and they draw most competition from the smaller local providers. In addition, he highlighted how both firms need to design their products; to align with the regulatory requirements on a country-by-country basis.
“My time at Uber gave me experience in building products and teams that take advantage of the efficiency you gain by being larger, However, you need to know when it’s important to have a local presence in order to stay familiar with consumer and market needs,” he said.
Binance has been focused on its global expansion plans and the addition of the former Uber executive would help the exchange move in the right direction.