Bittrex Global GmbH, the digital asset exchange, has appointed Michael Schröder as chief compliance and risk officer and a member of the Management Board for Liechtenstein.

The company said Mr Schröder's employment with Bittrex Global GmbH begins September 1.

He will work closely with Jeff Baron, the chief compliance officer of Bittrex Global (Bermuda) Ltd.

Siegfried Herzog, the current chief compliance officer of Bittrex Global GmbH, is expected to join the board of directors upon stepping down.

The company said Mr Schröder has more than 25 years of experience in global financial institution executive roles, including Sumitomo Mitsui Financial Group, State Street Bank & Trust, Triodos NV, and Commerzbank AG.

He has an extensive background in acquiring and strengthening banking licenses, driving business strategy, and managing high-performing teams.

Stephen Stonberg, Bittrex Global GmbH CEO, said: "Michael's specialised financial industry knowledge makes him a perfect fit for Bittrex Global GmbH.

“His extensive background in international financial matters, including regulatory and capital markets will ensure Bittrex Global GmbH remains the best and most secure digital asset exchange available."

Previously, the company said, he was a board member at SMBC Nikko Capital Markets Europe GmbH, a Brexit institution he built from scratch, obtaining the regulatory license and establishing a profitable and highly competitive business model in the local capital markets industry.

Mr Schröder said: "I am pleased to be joining Bittrex Global GmbH as chief compliance and risk officer. This move comes at a contemporary moment, in that, we are on the brink of experiencing mass adoption of a hybrid financial system – a system inclusive of both traditional and decentralised finance within the mainstream market, globally.

"Bittrex Global GmbH is set to lead this economic transformation by continuing to provide secure, decentralised and borderless wealth-building opportunities unmatched by any other exchange."

Bittrex Global said it is the most secure digital asset exchange in the world, and serves both retail and institutional clients, globally.

Committed to helping users build wealth, Bittrex Global said it facilitates the purchase and trade of tokenised stocks, stablecoins, and over 250 utility tokens. Through its use of cutting-edge technology, advanced security protocols, and a sophisticated elastic multi-stage wallet strategy the company said it provides a high-level experience for professional and novice customers alike.

Bittrex Global said it is a key player in driving widespread adoption of secure and decentralised methods to building wealth while remaining compliant and adhering to the wide array of regulatory measures across the globe.