Why Binance Employees Are Remote-First

Five years after COVID-19 sparked a global remote work revolution, the trend appears to be swinging back. Some companies that once embraced remote work, such as Amazon and X (formerly Twitter), are now asking employees to return to the office. For many people this makes sense. These organizations were perceived as “face-to-face” companies, with workflows and cultures built around physical proximity. Working remotely has been a necessary adaptation during the global crisis, but for some its effectiveness may not justify a permanent switch.

Remote First is not a temporary patch for us. This is our foundation for many companies in the Web3 and cryptocurrency sectors. From the moment Binance was founded in 2017, it was designed to be a global remote-first organization, a model tailored to the needs of an industry that never sleeps. Operating in a borderless cryptocurrency world where markets operate 24/7 and users are spread across the globe, a remote-first model is not only reasonable, but essential.

We believe that over time, remote-first working will not remain a niche strategy. As the industry evolves and talent dynamics change, this model will become dominant. Businesses currently looking to bring employees back to the office will eventually have to adapt to this new reality once again.

Building a remote-first organization

Cryptocurrencies are inherently global and decentralized. The cryptocurrency and Web3 industries operate around the clock without a single geographical or temporal center. Binance’s remote-first model fits these requirements perfectly, allowing it to serve users in over 100 countries without the costs of maintaining large physical offices. Remote work is a priority for our entire workforce of more than 5,000 employees in nearly 100 countries. A Stanford University study found that remote work increases productivity by 13% while reducing turnover, and organizations save an average of $11,000 per employee per year by adopting a remote-first model that reduces office costs and increases efficiency.

This approach maximizes efficiency, allowing you to operate lean and agile, while empowering your teams to deliver exceptional results.

We can also offer hybrid working to jurisdictions where we hold regulatory approval and have a physical presence in locations such as Dubai and Paris, ensuring a hub for collaboration and regulatory engagement without compromising the benefits of a distributed workforce. We also balance global operations with local nuances to ensure seamless compliance with jurisdictional requirements and maintain a physical presence when required.

Efficiency is not automatic with remote priority settings. This requires thoughtful systems, a strong culture, and the right tools. Binance places tremendous emphasis on hiring the right talent: self-driven individuals who thrive in a fast-paced, decentralized environment. We provide the tools and resources to succeed, whether it’s a cutting-edge collaboration platform or a flexible budget to execute your goals.

Maintaining a cohesive culture across a distributed workforce is perhaps the biggest challenge, but this is also where Binance excels. We foster a shared culture based on user focus, mutual respect, direct communication, and a shared commitment to innovation. No matter where our employees are located, we are united by our principles of non-discrimination, a strong user focus, and a constant drive to push boundaries. Technology plays a key role here, ensuring smooth communication and collaboration across time zones.

Of course, challenges remain. Time zone differences can complicate synchronous collaboration, and creating a sense of belonging in a fully remote environment requires intentional effort. To address these challenges, we’re fine-tuning our asynchronous workflows, investing in strong team-building initiatives, and creating opportunities for employees to connect virtually and in person whenever possible.

It may not be for everyone, but it is for many.

Remote-first is key to Binance’s success, but it is not a one-size-fits-all solution. Best suited for industries and organizations that value agility, creativity, and global reach. For traditional industries with deeply entrenched in-house processes or companies whose cultures have been shaped by decades of physical collaboration, a full transition to remote work may not be feasible, at least not yet.

Even within the technology sector there are notable differences. Companies like Amazon, once a paragon of innovation, have settled into more rigid structures over time, requiring employees to work in the office three days a week, monitoring the workday and prioritizing control over flexibility, reducing this to five days by 2025. Increase it. For these organizations, moving to an office-based model may seem logical. But I believe this approach overlooks the broader trends shaping the future of work.

Remote-first work requires a specific type of talent: creative thinkers, self-motivated individuals, and people who thrive on autonomy. Organizations must also embrace a culture of trust and responsibility. Not every company or every employee is ready for this level of independence, but the rewards are enormous: access to a global talent pool, unparalleled flexibility, and the ability to move at the speed of innovation.

Why remote is the future

The world is becoming increasingly digital, with services and products tailored to dispersed geographies and diverse demographics. These changes are reflected in the way people live, work, and perceive freedom. The traditional model of commuting to a central office five days a week has become inadequate for this new reality.

The workforce is also becoming more global. Top talent can come from anywhere, and companies that want to attract and retain that talent need to provide flexibility. Remote-first organizations like Binance are demonstrating the effectiveness of this model, putting competitive pressure on incumbents to adapt. As companies compete for top talent, those that stick to traditional models risk being left behind.

AI will also play a transformative role. As automation takes over repetitive tasks, the workforce will increasingly consist of high-level thinkers: creative, strategic, and analytical individuals. These workers value autonomy and flexibility, and remote-first models cater to their preferences. Companies that embrace these changes will be better positioned to thrive in a changing work environment.

But remote-first doesn’t mean giving up on physical interaction entirely. Hybrid models that combine the benefits of remote work with regular in-person or virtual collaboration offer a promising middle ground. At Binance, we run regular virtual team building events, fun clubs both virtually and in person, with some teams regularly offsite and local teams meeting regularly, especially in regions where we have received regulatory approval. Give your employees the flexibility they want while maintaining the human connections that foster creativity and teamwork.

Pioneering the future of work

Of course, remote-first work is not universal. Certain occupations, such as healthcare, manufacturing, and other occupations that rely on physical presence, will always require on-site work. But for many white-collar roles, the potential for remote work is enormous. The change is gradual and expected to take decades, but it is inevitable.

Binance is proud to be at the forefront of this transition. Our remote-first model allows us to not only lead the way in the rapidly changing world of cryptocurrency, but also sets the standard for the way we will work in the future. By prioritizing flexibility, autonomy, and a global mindset, we are paving the way for others to follow.

As the world continues to become more digital and decentralized, companies that embrace these principles will succeed. Binance isn’t just building the future of finance, we’re building the future of work. And we’re just getting started.