Oliver Linch is the new CEO of Bittrex Global, the crypto currency exchange, replacing Stephen Stonberg.

The boards of directors of Bittrex Global GmbH of Lichtenstein and Bittrex Global (Bermuda) Ltd announced that Mr Stonberg stepped down from the post.

Mr Linch, the current general counsel of Bittrex Global, has been appointed by the boards as CEO to oversee the management of the companies.

Bill Shihara, co-founder of Bittrex, said: "As an integral part of the Bittrex Global leadership for the past three years, Stephen has overseen the growth of the company and its personnel and the creation of a highly experienced leadership team.

"He has helped guide the company through a period of significant change in the sector and overseen the considerable expansion of the business. We are very grateful for his contribution to the company and send him all our best wishes."

Mr Shihara added: "We are very pleased that Oliver Linch will now be leading Bittrex Global as CEO.

“Oliver has over a decade of experience in the financial services sector, having advised major investment banks, brokers, exchanges and other financial institutions on regulatory matters across different regions including the US, UK, Middle East and the European Union.

“As we welcome increased regulatory oversight in our sector, individuals like Oliver will be key to bridging the gap between traditional finance and the world of digital assets."

Mr Stonberg said: "It has been a privilege and an incredible experience for me to have led this business over the past three years.

“I am so proud of what we have achieved in making Bittrex Global more customer-focused and competitive and I am certain this will continue under Oliver's lead.

“I wish my friends and colleagues at the company all the best, and know that the future of Bittrex Global is bright."

Mr Linch said: "I look forward to continuing to champion Stephen's drive for innovation and high levels of customer service at Bittrex Global.

“The company constantly strives for the highest standards of regulatory and legal compliance, at the same time improving its product and service offering for our customers, and I know that the whole leadership team will be focused on building on the strong foundations put in place by Stephen."

Bittrex Global says it serves both retail and institutional clients globally, facilitating the purchase and trade of more than 500 tokens.

Bittrex Global (Bermuda) Limited is regulated by the Bermuda Monetary Authority and licensed as a Class F digital-asset business under the Bermuda Digital Asset Business Act 2018 to operate as a digital-asset exchange, provide custodial wallet services and operate as a digital-asset derivative exchange provider.