Binance Hires Former NBA, Dell Exec to Head Global Strategy Initiatives

Major cryptocurrency exchange and blockchain platform Binance has hired a former strategic executive at Dell and the National Basketball Association as Binance’s global strategy officer, according to a press release shared with Cointelegraph on June 5.

Binance’s new official Strategy Officer, Gin Chao, will reportedly advance the organization’s global strategy, heading initiatives in corporate development, venture investment and its legal departments; Chao’s responsibilities also include finding ways to bridge departments via new hires.

Chao is also reportedly expected to discover business opportunities for Binance partners, as well as to create and manage strategies for areas and projects within the company, such as Binance’s venture capital (VC) arm, Binance Labs, and its fiat-to-crypto gateways.

As recently reported by Cointelegraph, Binance launched Trust Wallet on its decentralized trading platform Binance DEX on June 4. Trust Wallet is an open source, decentralized wallet for ether (ETH) and other cryptocurrencies that also supports decentralized applications. Trust Wallet was initially acquired from its original developers at the end of last June.

Binance is also in the early phases of trialing a stablecoin for the British pound on its native blockchain. Binance CEO Changpeng Zhao (CZ) has commented saying there is only £200 minted of the stablecoin, listed as $BGBP, on Binance Chain so far.