Bittrex Global to Operate Cryptocurrency Exchange From Bermuda
30.9.2020 18:16:00 EEST | Business Wire | Press release
Bittrex Global (Bermuda) Ltd. received a full Class F Digital Assets Business Act license to operate its acclaimed cryptocurrency exchange under the supervision of the Bermuda Monetary Authority (BMA).
The Bermuda-based entity will provide Bittrex Global with an additional important gateway for global accounts. From its Bermuda hub, Bittrex Global (Bermuda) will offer additional digital asset services over time subject to further approval by the BMA, such as futures.
“The entire crypto industry is about looking forward,” said Bittrex Global’s CEO Tom Albright. “Working with the Bermuda Government and the BMA to be part of another regulatory community that keeps innovating is extremely exciting and is an important step in increasing crypto’s penetration at all levels of the financial industry.”
Bermuda Premier David Burt added “attracting Bittrex Global to Bermuda is a significant achievement. As one of the leading global exchanges, Bittrex Global’s choice of Bermuda for expanding their global operations is a testament to the attractiveness of Bermuda’s approach. Thanks to the progressiveness of the Bermuda Government and the Bermuda Monetary Authority, Bermuda offers the ideal regulatory clarity and flexibility to allow Bittrex Global to innovate quickly.”
Bermuda’s strengths lie in its innovative Digital Assets Business Act of 2018 (“DABA”), which provides a comprehensive framework for the regulation and oversight of crypto financial services including digital asset issuance, sale and redemption, exchange operations, and custodial services.
DABA’s regulatory and supervisory protocols protect customers with rigorous requirements for enterprise management, security and custody risks, while also guarding against international criminal activity in line with Financial Action Task Force (FATF) standards.
“Adding the Bermuda regulated exchange means more people can work with Bittrex Global to invest, trade and expand their portfolios in a fully compliant and well-regulated environment,” said Stephen Stonberg, Bittrex Global’s (Bermuda) Chief Financial Officer and Chief Operating Officer.
“Many Governments around the world have dragged their heels in incorporating the regulatory requirements for digital asset businesses and crypto, but Bermuda has been one of the leaders in regulatory innovation,” Stonberg said. “The Bermuda Government’s concierge service has made the process of setting up our operations in Bermuda seamless. Having a single point of contact within the Government to manage interactions was a refreshing change of pace.”
With this new license in place and with the help of Bermuda’s concierge services, the Bittrex Global executive team will begin growing its presence in Bermuda. In addition, the company is in the process of opening a Bermuda office and intends to hire up to three people in 2020 with further hires as the business grows into 2021 and beyond.
Steven Rees Davies, lead partner at Bittrex Global’s (Bermuda) legal counsel, Appleby in Bermuda, commented: “Congratulations to Stephen Stonberg and Tom Albright and the innovative team at Bittrex Global on the establishment of their cryptocurrency exchange in Bermuda. With digital asset derivatives trading up to roughly seven times the volume of the spot market, providing a platform for traders to actively participate in digital asset derivatives trading is a big step forward in the growing digital asset sector. Bermuda’s highly established regulatory and fintech community welcomes your ingenuity and we look forward to continuing to support your many forward-thinking initiatives.”
“Bittrex Global is well positioned to deliver on the promise of how digital assets will reshape our global financial system and Bermuda plays a strong role in that story,” Premier Burt added.
About Bittrex Global
Bittrex Global has one of the most secure trading platforms and digital wallet infrastructures in the world where customers can access exciting new products. Built on Bittrex’s cutting-edge technology, Bittrex Global provides a high-level experience for professional and novice customers alike.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20200930005717/en/
Contact information
Media Contact:
John McLeod
Manager Flixel Studios
Tel: 0044 (0)7886920436
E-mail: john@flixelstudios.com
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Nordson EFD Launches PICO Pµlse XP HV Jetting System to Meet Assembly Market Demand for Dispensing High-Viscosity Materials9.11.2026 17:00:00 EET | Press release
Nordson EFD,a Nordson company (NASDAQ: NDSN), today announced the launch of its PICO Pµlse® XP HV jetting system designed for extremely precise (XP) assembly applications utilizing high-viscosity (HV) materials like thick silicones, greases, and UV-cure adhesives. New formulations are rapidly entering the industrial marketplace due to evolutionary new product development across multiple industries including electronics, medical, and automotive. Nordson leveraged its core competencies and time-tested structural architecture to innovate the piezoelectric jetting system for non-contact precision dispensing of this emerging genre of viscous materials. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260921406991/en/ Caption 1: Engineered for performance, the PICO Pμlse XP HV jetting system excels in demanding applications, such as optical bonding adhesives and precise one drop fill. The PICO Pµlse XP HV jet valve is automation rea
Tashkent Makes History with Central Asia’s First Golden Globes Gala9.11.2026 15:42:00 EET | Press release
Tashkent hosted the inaugural Golden Globes Silk Road Tribute Gala, bringing together internationally recognised actors, filmmakers and cultural figures from Central Asia, the Caucasus and beyond. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261109918777/en/ Tashkent Makes History with Central Asia’s First Golden Globes Gala (Photo credit: © Organising Committee of the Golden Globes Silk Road Tashkent) Guests of honour included Otabek Umarov, First Deputy Chairman of the National Olympic Committee of Uzbekistan, Vice President of the Olympic Council of Asia and Member of the FIA Senate, and Shakhnoza Mirziyoyeva, First Deputy Director of the National Agency for Social Protection, First Deputy Chairman of the National Paralympic Committee of Uzbekistan and Member of the World Aquatics Executive Bureau. The event marked the first edition of the Golden Globes Silk Road initiative, establishing Tashkent as the launch city for
Latifa bint Mohammed Inaugurates ISEA20269.11.2026 15:30:00 EET | Press release
Her Highness Sheikha Latifa bint Mohammed bin Rashid Al Maktoum, Chairperson of Dubai Culture and Arts Authority, inaugurated the 31st International Symposium on Electronic/Emerging Art (ISEA2026 Dubai), held under the theme ‘ELYAH: Constellating Place, Data, and Identity.’ Bringing together artists, researchers and innovators from around the world, the symposium, in its largest-ever edition, explores how art, science and technology can expand creative expression, deepen cultural understanding, and shape the future of electronic and emerging art. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261109319593/en/ Burj Khalifa lights up to celebrate the opening of ISEA2026 Dubai (Photo: AETOSWire) Her Highness marked the inauguration by launching the interactive ELYAH show at ARTE MUSEUM Dubai. Inspired by Dubai’s celestial heritage, the experience combined light, music, performance and digital technology to explore the relations
Muslim World League’s “Minhaj” App Participates in Hajj Conference and Exhibition 2026 in Jeddah9.11.2026 15:04:00 EET | Press release
The “Minhaj” app, developed by the Muslim World League (MWL), is participating in the sixth edition of the Hajj Conference and Exhibition 2026, which commenced today in Jeddah under the patronage of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud (may Allah protect him). Organized by the Ministry of Hajj and Umrah in cooperation with the Pilgrim Experience Program, one of the programs of Saudi Vision 2030, the event is being held from November 8 to 11 at the Jeddah Superdome under the theme “From Makkah to the World.” This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261109411972/en/ The pavilion of the Muslim World League (MWL) at the sixth edition of the Hajj Conference and Exhibition 2026 in Jeddah, Saudi Arabia. (Photo: AETOSWire) Minhaj’s participation in this international event aims to introduce its integrated Islamic digital ecosystem, launched from Makkah to serve Muslims worldwide. The app off
CAIRDAC Adds Operational Expertise to Its Board of Directors With the Appointment of Rinda Sama9.11.2026 14:44:00 EET | Press release
CAIRDAC, SA, a pre-revenue-stage medtech company developing ALPS™, a leadless, self-powered cardiac pacing system, today announced the appointment of Mr. Rinda Sama to its Board of Directors. His appointment adds deep manufacturing, quality and operational experience to the Board and follows the recent appointment of Raymond W. Cohen as Chairman. “Mr. Sama’s extensive experience in manufacturing, quality systems and operational scale-up for complex implantable devices will be extremely valuable to our Company as we prepare for clinical evaluation and the next stages of development,” said Edouard Fonck, Chief Executive Officer of CAIRDAC. Mr. Sama currently serves as CEO of Spiro Medical, a company focused on treating asthma employing a proprietary neuromodulation system. He previously served as Chief Operating Officer of publicly traded Axonics, Inc. where he was accountable for manufacturing and quality and the operational infrastructure that supported the company’s commercial growth.
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom