Why Binance employees are remote – first

Five years after COVID-19 revolutionized global telecommuting, the pendulum seems 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, this makes sense. These organizations are set up as “private” businesses with work processes and cultures built around physical proximity. Telecommuting has been a necessary adaptation during the global crisis, but for some, its effectiveness may not justify a permanent transition.

Remote-first is not a temporary patch for us; this is our foundation, as it is for many companies in the Web3 and crypto sectors. Since Binance’s inception in 2017, it has been designed as a global, far-flung first organization tailored to the demands of an industry that never sleeps. In a limitless crypto world where markets operate 24/7 and our users span all corners of the globe, the remote-first model isn’t just common sense – it’s essential.

My belief is that, over time, a distant first job will no longer be a niche strategy. As industries evolve and talent dynamics change, this model will prevail. Companies that are forcing their employees back into the office will eventually adjust to this new reality – once again.

Building a remote first organization

Cryptocurrency is global and decentralized by nature. The crypto and Web3 industry operates around the clock, with no geographic or temporal center. Binance’s remote-first model fits these requirements perfectly, allowing us to serve users in over 100 countries without the overhead of maintaining extensive physical offices. Our entire workforce of over 5,000 employees from nearly 100 countries is remote from the first. A to study According to a Stanford University study, telecommuting increases productivity by 13 percent, reduces turnover, and organizations save an average of $11,000 per employee per year by reducing office costs and adopting remote practices while increasing efficiency.

This approach increases efficiency, allowing us to operate lean and agile, while allowing our teams the autonomy to deliver exceptional results.

We also provide hybrid operations in jurisdictions with regulatory approvals in places such as Dubai and Paris, allowing us to create hubs for collaboration and regulation without compromising the benefits of a distributed workforce. And balancing global operations with local nuances to ensure seamless compliance with our jurisdictional requirements and physical presence where necessary.

Efficiency doesn’t come automatically on a remote first installation. It requires special systems, a strong culture and the right tools. At Binance, we place great emphasis on hiring the right people: self-driven people who thrive in a fast-paced, decentralized environment. We provide them with the tools and resources to help them succeed, whether it’s advanced collaboration platforms or flexible budgets to meet their goals.

Maintaining a cohesive culture in a distributed workforce is perhaps the biggest challenge, but Binance has an advantage at the same time. We foster a shared culture based on user focus, mutual respect, direct communication and a shared commitment to innovation. Regardless of where an employee is located, they are united by our principles: no discrimination, a strong user focus and a relentless pursuit of breaking boundaries. Technology plays a key role here, allowing us to maintain seamless communication and collaboration across time zones.

Of course, there are still challenges. Time zone differences make synchronous collaboration difficult, and it takes a deliberate effort to develop a sense of belonging in a completely remote environment. To address these, we fine-tune asynchronous workflows, invest in strong team building initiatives, and enable employees to connect virtually and in person whenever possible.

Not for everyone, but true for most

It’s a key part of Binance’s success, but it’s not a one-size-fits-all solution. It works best for industries and organizations that value agility, creativity and global reach. For traditional industries with deeply entrenched in-office processes, or companies whose culture has been shaped by decades of physical collaboration, a full shift to remote work may not be possible — at least not yet.

There are also significant differences in the field of technology. Companies like Amazon, once the epitome of innovation, have settled into rigid structures over time, requiring employees to work in the office three days a week and increasing that to five by 2025. office daysPrioritize control over flexibility. For these organizations, it may seem logical to return to an office-based model. But I believe this approach misses the broader trends shaping the future of work.

The first remote job requires a certain type of talent: creative thinkers, self-motivated people, and those who thrive on autonomy. It also requires organizations to adopt a culture of trust and accountability. Not every company or every employee is ready for this level of independence, but the rewards are huge: 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 distributed geographies and diverse demographics. This change is reflected in how people live, work and perceive freedom. The traditional model of going to a central office five days a week is becoming a poor fit for this new reality.

Workforces are becoming more global. Top talent can come from anywhere, and companies that want to attract and retain that talent must offer flexibility. Early firsts like Binance demonstrate the effectiveness of this model, creating competitive pressure for traditional firms to adapt. As companies compete for top talent, those who cling to old models risk being left behind.

AI will also play a transformative role. As automation takes over repetitive tasks, the workforce is made up of high-level thinkers – creative, strategic and analytical individuals. These workers value autonomy and flexibility, and remote-first models satisfy their desires. Companies that embrace this shift will be better positioned to succeed in the evolving work landscape.

That said, distance doesn’t mean completely avoiding the first physical interaction. Hybrid models—combining the benefits of remote work with occasional in-person or virtual collaboration—offer a promising middle ground. At Binance, we have periodic virtual team building events, virtual and in-person fun clubs, some teams regularly meet off-site, and our local teams meet regularly, especially in areas where we have regulatory approvals. They maintain the human connections that foster creativity and teamwork, and provide employees with the flexibility they crave.

It paves the way for the future of work

Of course, working remotely first isn’t universal. Some professions, such as healthcare, manufacturing and others that rely on physical presence – always require on-site operations. But for many white-collar workers, telecommuting is a big option. The death will happen slowly, perhaps taking decades, but it is inevitable.

Binance is proud to be at the forefront of this transition. Our far-from-first model not only allows us to be a leader in the rapidly evolving world of crypto, but also sets the standard for what can happen in the future. By prioritizing flexibility, autonomy, and global thinking, we pave the way for others.

As the world continues to digitize and decentralize, companies that embrace these principles will thrive. At Binance, we’re not just building the future of finance, we’re building the future of work. And we start over.