AAX, a cryptocurrency exchange, has announced plans to hire hundreds of new employees in an effort to treble its workforce this year. For many observers, this may seem rather odd, considering that the crypto market has been sending warning signals in 2022. AAX plans to open new offices in new markets and hire more employees to increase its expertise and product ranges. Some of the biggest cryptocurrency companies, including Coinbase, have recently announced massive layoffs.
Why is AAX going against the grain?
The new AAX Trends division is currently hiring to provide educational programs, content, events, and partnerships. Some crypto talents have had a rough time of it this winter due to a shaky market and a negative sentiment. Nonetheless, crypto optimists maintain that this is a normal part of financial assets markets.
Bitcoin and other digital assets are becoming increasingly popular around the world, but this growth is particularly noticeable in developing countries. With the help of these assets, we’re seeing a larger range of financial applications as well as more inclusive economies. While it’s important to take advantage of the “bull” when things are going well, it’s also important to create a strong foundation when things are going downhill and be ready for the next “bull” to arrive. This seems to be the driving force behind AAX’s expansion plans.
“The evolution of money is a long-term growth story and our talent recruitment strategy aligns with that fact. Our commitment to emerging markets is part of that same growth story,” said Ben Caselin, Head of Research and Strategy at AAX.
More than 96% of people globally do not have access to digital assets, and this is where AAX comes in. Currently, I t has more than 2 million users in 160 countries and territories. AAX is also the first exchange to implement the Satoshi Standard (SATS) to promote the use of Bitcoin.