Crypto firm Coinhako is hiring to woo institutions, wealthy

SINGAPORE-BASED cryptocurrency exchange Coinhako is hiring amid the downturn as it eyes expansion in Asia with a focus on institutions and the wealthy.

Coinhako is looking to grow in South-east Asia and then more broadly throughout the region, Collin Cheong, director of corporate development, said in an interview. The firm, launched in 2014, is hiring “aggressively” in areas like institutional sales and trading, as it seeks to boost business with bigger firms and high-net-worth investors.

“More forward-looking institutions will be looking at this market downturn as an opportunity to get involved in the digital assets space by either investing in the asset class itself or building the necessary infrastructure to support the next step-up in digital assets adoption,” Cheong said.

Coinhako’s institutional arm has seen more activity and interest from clients like asset-management firms and family offices based in Asia looking to get access to digital assets, Cheong said.

Numerous firms like Coinbase Global and Crypto.com have been cutting back on their workforces amid a monthslong downturn in token prices, and as the industry copes with fallout from episodes like the Terra/Luna implosion and the downfall of hedge fund Three Arrows Capital. However, Coinhako isn’t alone in looking to hire - the likes of Binance and CryptoQuant have said they’re adding jobs as well. BLOOMBERG