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
Boomi, a 12X Leader, Positioned Highest for Ability to Execute in the 2026 Gartner® Magic Quadrant™ for Integration Platform as a Service18.3.2026 17:30:00 EET | Press release
Boomi™, the data activation company, today announced it has been recognized as a Leader and positioned highest for Ability to Execute in the 2026 Gartner® Magic Quadrant™ for Integration Platform as a Service (iPaaS). This marks the 12th consecutive time Boomi has been named a Leader– the longest recognized vendor in the report’s history. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260318987091/en/ Boomi, a 12X Leader, Positioned Highest for Ability to Execute in the 2026 Gartner® Magic Quadrant™ for Integration Platform as a Service Boomi attributes its continued industry recognition to its unwavering commitment to innovation, customer success, and ecosystem growth. Over the past year, Boomi has accelerated its investments in integration and automation, APIM, agent management, and data management to help enterprises transform fragmented systems and data into orchestrated processes and governed agentic workflows. Recent i
Torq Becomes the Cursor of Security Operations With New Agentic Builder18.3.2026 16:47:00 EET | Press release
Torq, the established agentic security operations leader, today unveiled Agentic Builder, a critical extension of the Torq AI SOC Platform that turns human intent into agentic outcomes. Agentic Builder enables SOCs to shift the cognitive load of engineering security automation from humans to machines. These Cursor-level capabilities eliminate all barriers to deliver production-grade agentic workflows and AI Agents that manage unlimited alerts 24x7, integrate with every level of the enterprise stack, streamline investigation, and respond at machine speed. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260318328878/en/ This news follows Torq’s recent announcement that it has secured a $140M Series D round at $1.2B valuation to lead the AI SOC and Agentic AI era. Torq AI Agents are now deeply embedded in the daily operations of Fortune 500 SOCs, managing millions of complex security tasks autonomously. Torq now protects hundred
Laserfiche Announces 2026 Run Smarter® Award Winners18.3.2026 16:17:00 EET | Press release
Laserfiche — the leading SaaS provider of intelligent content management — today announced the winners of the 2026 Laserfiche Run Smarter® Awards. These awards celebrate the visionaries and trailblazers who are redefining the possible, using Laserfiche to break down operational silos and catalyze a new era of enterprise-wide productivity. From a large city reimagining criminal justice to a financial services firm’s innovative use of AI for smarter service delivery: The winners enhance productivity, reimagine processes and improve lives with Laserfiche technology. “The true power of Laserfiche has always been in how it unlocks value — whether that is through delivering actionable intelligence, cost savings, or reclaimed time to put toward innovation,” said Karl Chan, CEO of Laserfiche. “This year’s honorees are at the forefront of information management, with many of them leveraging cloud and AI technology to modernize processes and achieve business transformation.” Congratulations to t
Andersen Consulting Bolsters Cybersecurity Offering Through Collaboration with Trillium Information Security Systems18.3.2026 15:30:00 EET | Press release
Andersen Consulting strengthens its technology and risk management capabilities through a Collaboration Agreement with Trillium Information Security Systems (TISS), a cybersecurity firm. With a presence in Canada and Pakistan, TISS delivers comprehensive cybersecurity solutions to organizations across the financial services, telecommunications, and public sectors. The firm’s team offers a broad suite of services, including security assessments, managed security operations, red team services, digital forensics & incident response, and GRC advisory. With nearly two decades of experience, TISS provides adaptive, intelligence-driven defenses that help clients anticipate and respond to evolving cyber threats. “At TISS, we work to create a safer digital environment by empowering organizations to operate securely and with confidence,” said Mahir Mohsin Sheikh, CEO of TISS. “Our collaboration with Andersen Consulting allows us to combine our deep technical expertise with a global consulting fr
I-Pulse Acquires CSI Technologies to Strengthen U.S. High-Energy Capacitor Manufacturing Capabilities18.3.2026 15:30:00 EET | Press release
Co-Founder, Chairman, and CEO, Robert Friedland, and Co-Founder and Chief Technology Officer, Laurent Frescaline, of I-Pulse, the world leader in high pulsed power technologies, are pleased to announce the acquisition of CSI Technologies, Inc., the California-based manufacturer of high-energy, high-voltage capacitors serving industrial, medical, and defense applications. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260318099794/en/ The strategic acquisition enhances I-Pulse’s pulsed power development and U.S. manufacturing capabilities, particularly in mining, geothermal energy, mineral exploration, and water resource applications. By integrating CSI Technologies’ proven capacitor design and production expertise, I-Pulse strengthens its access to a reliable supply chain and expands its ability to rapidly design, prototype, and manufacture compact, high-energy-density capacitors. Co-Founder, Chairman, and CEO of I-Pulse Rob
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