BitFlyer – Founder acquires Wall Street executives to fill key positions he believes are necessary to build a crypto empire in the developing institutional market.
BitFlyer hires talent away from the banking giants
Yuzo Kano, himself a former Goldman Sachs trader, has hired talents to gain and expand experience within his own ranks to expand into the emerging institutional crypto market with BitFlyer.
The Bitcoin Profit regulatory
The regulatory reform at the beginning of 2018 has made Japan Bitcoin Profit the preferred location for the global expansion of the crypto industry, as the government, unlike most other countries such as the USA and the UK, has given the green light. This regulatory framework makes the transaction from traditional banking into the crypto world a less intimidating step. Bloomberg reports:
“THE KANO TEAM, WHICH INCLUDES A FORMER HEAD OF THE FIXED INCOME DESK AT BARCLAYS PLC AND A FORMER PRIVATE BANKER AT CREDIT SUISSE GROUP AG, HAS DOUBLED IN THE LAST SIX MONTHS TO MORE THAN 150 PEOPLE AND IS WELL ON ITS WAY TO REACHING 300 BY THE END OF THE YEAR”.
BitFlyers user numbers increase
BitFlyer has tripled its users to 2 million since 2017. The exchange already has offices in Tokyo, San Francisco and Luxembourg and is considering expanding to include locations in Africa, Australia and other Asian countries. Kano’s expansion plans extend beyond new offices and the crypto trade. He plans banking services such as digital payment and advisory services for investors and start-ups interested in introducing an ICO.
Kano expands bitFlyer into the institutional market
Talking to Bloomberg in his office in Midtown Tower in Tokyo, Kano said: “I need more staff. And those with the best skills come from global banks.
BitFlyer’s spending is only a small part of the expanding team as the company is looking for programmers, regardless of their educational background, as long as they have proven skills, to earn $100,000 per year, partly due to the underpopulated technology sector in the countries. Kano has divided his new appointments into two groups: Bankers in their forties looking for a change and employees in their twenties looking for the pace of a start-up.