A former Microsoft executive has joined Binance to help the crypto exchange expand into the space of Web3 services and solutions.
Rohit Wad was named chief technology officer (CTO) in charge of ensuring the security, stability, and liquidity of the exchange while meeting the regulatory compliance requirements across regions where Binance is available. He was previously corporate vice president at software giant Microsoft.
Wad’s role at Binance will also include helping the exchange scale its engineering team to accelerate the growth of its product suite.
“We are working on many Web3 experiences and solutions that will be transformative to billions of people, starting with the freedom of money. I am excited to be able to bring the amazing advances and potential of Web3 technology to everyone,” said Wad.
Binance has also announced the hiring of Mayur Kamat, former Agoda VP of Product, as Head of Product. He will reportedly lead every aspect of the exchange’s product strategy, roadmap and development.
Kamat said he would build on Binance’s market-leading position by helping the exchange develop products that bring mass adoption to crypto and lower the entry barriers to the Web3 technology.
Overall, there is a similar dynamic in how both Wad and Kamat will tailor Binance’s offerings to suit Web3 innovations and make relevant services more accessible and usable to everyday people.
“My career has been focused on improving everyday life with the power of technology. Less than 10 percent of the addressable internet population owns crypto assets. Our goal is to bring the benefits of Web3 technology to the masses by making the product simple enough that anyone in the world can use them, including those who are new to it. I am humbled to play a small part in providing financial freedom and supporting inclusion to billions of people,” said Kamat.
Kamat brings to the role two decades of experience in tech and product, having previously served as the VP of Product at Agoda. Prior to that, he led product teams at Hiya and Google. While at the internet giant, he was behind the product team that developed Gmail for mobile, Android for Work, Hangouts, Google Voice, and Windows DRM.
He is supposed to help optimize Binance’s offering at a time when the exchange is running into regulatory controversy after controversy. For the better part of 2021, Binance has encountered an abundance of issues with financial services regulators around the world.
