Blockchain.com to Grow Headcount as it Eyes Global Expansion

Top cryptocurrency exchange Blockchain.com has hinted at plans to increase its workforce as part of its efforts towards global expansion, citing potential entry into markets in Nigeria and Turkey. 

Blockchain.com to Expand to Nigeria and Turkey

Blockchain.com is looking to increase its headcount by a minimum of 25% in the first quarter of next year. The process has commenced on a small scale seeing that Curtis Ting, Kraken’s former head of global operations has been hired. Ting’s responsibility includes setting up the crypto exchange’s new hub in Paris and carving out local entities across Europe, needed to comply with new regulations.

Before now, the European arm of Blockchain.com has been operating and managing its activities under a single London-based entity. This time, the company plans to acquire several local licenses to facilitate expanding and adopting its services across the board. Peter Smith, Blockchain.com’s CEO reiterated this stance in a recent interview. 

According to the company’s LinkedIn page, the company has 201-500 employees but some sources claim that Blockchain.com currently has around 300 people working to bring its vision to life. 

“We are definitely a little bit in the early spring, and it’s definitely time when you start to invest in the future,” Blockchain.com CEO said.

The plan for expansion into Nigeria and Turkey is bound to increase this figure to a reasonable extent. 

Industry-Wide Expansionary Moves

Such expansion as Blockchain.com is mulling has also been seen with many other crypto projects, indicating a movement toward regaining stability after the multiple collapses in 2022 that saw the price of different cryptocurrencies plunge.

Bahrain-based cryptocurrency exchange CoinMENA recently decided to expand its operational capability in the Emirates, solidifying its presence in the Middle East’s burgeoning digital asset sector. Crypto payment company Ripple Labs Inc. is also one of those businesses that have decided to expand their ventures to other regions, especially after the lawsuit it suffered from the U.S. SEC.

In September, Ripple announced plans to embark on a hiring exercise of which 80% will be outside the United States. It looks like more crypto-related projects will be expanding out of America in the near future seeing that the scrutiny on digital assets and their issuers is not abating.