Crypto exchange AAX plans to recruit more staff despite bear market

AAX (aax.com), a digital assets exchange platform with offices across the Asia-Pacific region, has announced plans to expand its services further.

According to the company, this will happen via fresh recruitment of staff across hundreds of positions. The hiring will continue throughout 2022, despite the bear market conditions that have seen several leading crypto firms lay off significant portions of their workforce.

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The expansion will also include opening new offices and launch of new product lines. Also to see fresh input will be the platform’s AAX Trends, a business arm that focuses on helping drive adoption via educational programs, events and partnerships.

AAX’s growth story

The crypto exchange, which was founded in 2018, has over 2 million users in 160 countries. It offers access to over 200 spot pairs, with the adoption of the Satoshi Standard (SATS) enabling even more users to buy Bitcoin.

The LSEG Technology-powered platform also supports Lightning Network, offers high-yield savings packages, futures trading and several on- and off-ramp products. 

Hiring new staff and expanding their services is part of their long term growth plans, the firm’s head of research Ben Caselin said in a statement. He added:

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.”

AAX’s hiring plans come amid extremely negative market sentiment, with the uncertainty facing some industry giants not helping. This week, two firms – Celsius Network and Three Arrows Capital – have had to battle possible collapse. Their futures remain uncertain at best.

The AAX team says they are looking to the crypto winter to build, using the rough times to prepare for when the next bull market comes. The exchange could even tap talent recently laid off from platforms such as Coinbase, Gemini and Crypto.com.