Binance hires ex-Dell, NBA executive as global strategy officer

Leading cryptocurrency exchange Binance announced that it has onboarded Gin Chao, the former strategy executive of Dell and the National Basketball Association, as its global strategy officer.

With extensive experience in strategic investment management and cross-regional businesses, Chao will head the company’s corporate development, venture investment, and legal departments, according to the press release.

His role also includes seeking new partners and banking relationships, looking for ways to bridge departments through new hires, and offering new business opportunities for the company’s existing and upcoming partners, which includes its venture capital arm Binance Labs and its fiat-to-crypto gateways.

The announcement came after the company recently announced that it will issue its own stablecoin, to be called Binance GBP, “in a matter of weeks to a month or two.” Binance’s first low-volatility coin will reportedly be 100% pegged to the British pound.

The company also revealed it will introduce more stablecoins going forward, except USD.