Binance Lures Former Uber Exec to Head Up Global Expansion

A former executive from Uber has been appointed to lead expansion plans at the world’s largest cryptocurrency exchange by volume, Binance. Matt Shroder, who served most recently as head of product operations for Uber’s safety and marketplace programs, has joined Binance as VP of Global Expansion Operations.

The hiring, which is immediate, comes after Matt left Uber in December 2019. He spent a six-year term with the ride-sharing firm, where he managed multiple global teams across driver, safety, and marketplace programs. He also launched and scaled many of Uber’s first markets in the US.

Matt joins the influential crypto exchange with an extensive background and a lot of insight into the internal workings and plans of Uber’s operations. And now Binance has scooped him up in a talent grab to up its ability to grow its already fast-growing global business. His newly-created position may involve a new role that combines product design, engineering, and growth, including launching and scaling many new markets.

Binance’s aspirations for global conquest

“Matt has tackled many similar challenges at Uber--a company that was leading an entirely new industry, the sharing economy--which we feel resembles our industry today,” said Binance CEO Changpeng Zhao (“CZ”).

The Malta-registered Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term expects Shroder’s expertise to contribute to multiple key corporate development initiatives after he participated in successfully taking Uber public in a challenging market environment.

His appointment comes on the tail of Binance’s addition of Russian ruble on its peer-to-peer (P2P) platform, which opens new business opportunities in Eastern Europe. The move may be seen as a major breakthrough in Binance’s aspirations for global expansion.

Matt Shroder shared her own enthusiasm, noting: “There are more than a billion people who are unbanked or don’t have the ability to participate in the global financial market. By giving individuals access to these tools and opportunities, we can lift the quality of life for generations to come. I am looking forward to working with the larger Binance team as we focus on providing those types of opportunities at the global scale."