Blockchain.com, a prominent Bitcoin exchange and infrastructure provider, is defying the bear market trends by planning a significant expansion of its workforce. The company aims to increase its staff by 25% in the first quarter of 2024, focusing primarily on Europe and emerging markets. This decision follows two major layoffs in mid-2022 and January 2023, where the company reduced its workforce due to the crypto winter.
Curtis Ting, formerly the head of global operations at Kraken, has been recruited to spearhead the establishment of a new hub in Paris. This move is part of Blockchain.com's strategy to deepen its presence in Europe, seeking more local licenses and expanding its operations beyond the current London-based entity.
In addition to its European ambitions, Blockchain.com is making significant inroads into the African market, particularly in Nigeria. The firm is integrating cross-chain swaps into its decentralized exchange (DEX) aggregator, aiming to offer Nigerian traders enhanced liquidity, reduced slippage, and a broader range of crypto assets. Blockchain.com's commitment to empowering Nigerian users with advanced crypto trading tools is a key part of its strategy to tap into emerging markets.
Moreover, the company recently closed a $110 million funding round led by Kingsway Capital and announced collaborations with TRON and Changelly to integrate Blockchain.com Pay, a mobile payments application. These developments signify a strong comeback and a focused expansion effort by Blockchain.com, setting the stage for increased market presence in 2024
Disclaimer: Please note that the information provided in this article is based on the referenced research articles. It is essential to conduct further research and analysis before making any investment decisions. The cryptocurrency market is highly volatile, and investors should exercise caution and consult with financial professionals before engaging in cryptocurrency trading or investment activities.