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This was published 4 months ago
The value of cryptocurrencies themselves might fluctuate, but careers in the industry seem headed only one way: Up. Locally and internationally, we just can’t seem to get our hands on enough product specialists, blockchain specialists and engineers.
Banxa is an Australian-founded company, which develops crypto payment solutions. CEO Holger Arians says there are plenty of skill shortages in the industry, and an “absolute dearth of female talent in crypto”.
“Diversity is essential to innovation, and without better female representation we won’t be able to grow the crypto world to its fullest potential,” Arians says.
“The crypto market is ever-evolving”, says Banxa CEO Holger Arians.
It’s not just in its gender balance where the industry needs more employees. Arians says there’s demand for “more talent with interest or experience in crypto and blockchain technology as well as technology sales and UX/UI” – know-how when it comes to enhancing the user experience (UX) with products and services and the user interface (UI), which is how users interact with computer systems, software and applications.
Pandemic-related border closures limited the talent pool in Australia over the past two years, but given the shortages are global, Banxa recently partnered with Swinburne University on a Master of Financial Technologies to try to bolster the number of Australians choosing a career in crypto.
“It will offer school students taking FinTech electives at the university a unique opportunity to learn from industry leaders and provide a collaborative space to build Australia’s crypto talent across a wide spectrum of roles including strategy, product management, marketing, UX/UI and social impact,” Arians says.
For Arians, the partnership signifies an important step towards creating more pathways that provide employees for the booming sector.
“The crypto market is ever-evolving, and conversations with the next generation of FinTech leaders are critical to shaping the future of both the technology and industry,” he says.
Ting Wang, the CEO and co-founder of crypto exchange Coinstash, is another industry player with first-hand experience of the growth of all things crypto.
“We have tripled our workforce in the past 12 months, predominantly hiring technical talent. But, as our customer base is growing rapidly, we are always on the look-out for skilled talent within design, customer support, financial analysis and marketing,” he says.
Qualifications for jobs in crypto vary according to the role: “Having a computer science or engineering background with experience in coding and product development is often a great start for those looking to enter the industry in more technical roles. Equally though the industry needs talent with business and strategy backgrounds, who have an interest in crypto and blockchain to work in more analytical and commercial roles,” Arians says.
Arians believes anyone with a background in business functions like finance, marketing, strategy and sales can transfer into the crypto industry, as long as they have a “thirst for innovation and interest in the industry”.
It’s a sentiment Wang agrees with: “People who are intellectually curious, open to new ideas and ways of working tend to fit in well. [As do] people who have some understanding of how financial markets operate. Thirdly, as crypto never sleeps, people who have a start-up mindset are likely to find a successful career in crypto,” he says.
Whatever the role, salaries are competitive – Arians says jobs in crypto and FinTech are typically higher paid than in many other areas of finance. He’d like to see earlier entry to the field through more graduate programs and traineeships.
For its part, Banxa engages with rising stars early by employing students on a part-time basis. “[They can] increase their hours over the holiday period and Banxa ensures they have the correct balance of study and work when they return to their studies throughout the year,” Arians says.
As the industry keeps headhunting existing talent and developing pipelines for new ones, crypto careers will continue to evolve as the industry is cementing its place as an asset class.
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