The calm before the storm. Since the recent statements by Hong Kong on cryptos, the Special Administrative Region attracts all the ecosystem’s attention. China’s web 3 rear basethe financial center aims to become one of the world’s leading hubs.
And the companies are in a hurry to obtain a local crypto license to take advantage of the hype to come. Specialists were therefore expecting a rise in theemployment in the sector. For the time being, however, the figures are stable, and the traumas of the bear market are still being felt by employees. Let’s head for Hong Kong Island, where crypto employees are still in short supply!
Hong Kong’s seemingly calm crypto job market…
As of June 1ᵉʳ, no less than 150 companies had made a request for a license in this small territory, but for the time being, this is not reflected in hiring in the sector. To understand this phenomenon a little better, the press The international press asked Sue WeiManaging Director of recruitment specialist Hays. According to her, the sector’s needs in Hong Kong are still light, but that’s not going to last:
« Many web 3 companies are still in the early stages of development, but we expect the number of vacancies to increase as they continue to grow and mature. »
The same is true of Cryptorecruit and its founder, Neil Dundonfor whom nothing has really changed in Hong Kong in recent weeks:
« Even though the rules have changed, venture capital activity is extremely weak at the moment. However, I think we’ve hit rock bottom. bottom call -and I expect this [la situation] will improve from now on. »
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… but that shouldn’t last too long
Finally, let’s end this little tour of employment professionals with Olga Yungthe local manager of Michael Page, a specialist in executive recruitment. She confirms the trend observed by her competitors, but nonetheless notes a slight improvement on the hiring side legal services and implementation compliance. To better prepare the ground? This is also what Kevin Gibsonfounder of the Web3 Proof of Search recruitment company:
« It may take six months for crypto talent to flood into the region, as companies wait for their license applications to be approved. »
But as well as waiting for the green light from the authorities, behind the scenes companies are struggling to recruit staff following the massive layoffs in the sectorwhich left their mark on the collective unconscious. Let’s give the floor back to Sue Wei who shares her thoughts with us:
« Since the crypto bear market, we’ve seen a significant decrease in job offers for technical positions. This was particularly the case when employees were being laid off en masse. Since then, some people have been reluctant to work for a company in the sector because of the instability. jobs based primarily on the price of cryptos. »
Unfortunately, the crypto sector has a reputation for hiring when prices rise and laying off when they go down. This seasonal and cyclical aspect of the sector is probably a an obstacle to hiringaccording to these specialists. However, the Neil TanChairman of the FinTech Association of Hong Kong, is not worried. He will conclude today’s analysis: « there’s so much good news in the crypto and Web3 space in Hong Kong, that there’s going to be a lot of people coming to try their luck. ». Enough to create a hiring boom? He’s a firm believer. Especially sinceAsia could be theepicenter of the next bull cycle. So, are you ready to send your CV to this little piece of China?
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