Bittrex Global's CEO says the exchange company is exploring safe havens in light of regulatory tightening

Episode 56 of Season 3 of The Scoop was recorded remotely with The Block’s Frank Chaparro and Stephen Stonberg, CEO at Bittrex Global.

Listen below, and subscribe to The Scoop on AppleSpotifyGoogle PodcastsStitcher or wherever you listen to podcasts. Email feedback and revision requests to [email protected].

This episode is brought to you by our sponsors BakktKraken, and Exodus

Bakkt® unlocks the $1.2+ trillion of digital assets that is currently held in cryptocurrencies, rewards and loyalty points, gaming assets and merchant stored value. We began in 2018 with the vision to bring trust and transparency to digital assets. Through the Bakkt Warehouse and Bakkt Bitcoin Futures and Options contracts, we serve institutional clients in an end-to-end regulated market with true price transparency. For consumers, Bakkt aggregates digital assets to enable instant liquidity and to empower users to trade, transfer and pay however they want. Visit for more information

About Kraken
Whether you’re an experienced crypto trader or just starting out, Kraken has the tools to help you achieve financial freedom. With 50+ cryptocurrencies to choose from, industry-leading security and a wide variety of features to suit any investing strategy, Kraken puts the power in your hands to buy, sell and trade digital assets. Visit to get started today.

About Exodus
Exodus is leading the world out of traditional finance by building beautiful and user-friendly crypto products. Forget having to learn the nuances of different cryptocurrencies. Exodus is designed for everyone and hides the complex details behind a beautiful and intuitive interface.

Buy and sell one cryptocurrency for another from the comfort of your wallet, in seconds. Funds remain under your full control.
Secure, manage, stake, and exchange all of your favorite cryptocurrencies from one wallet. No account registration is required. Download Exodus at or directly from Google Play and the iOS App Store and you’re ready to go.

On this episode of The Scoop, Bittrex Global CEO Stephen Stonberg joined host Frank Chaparro for a discussion on Bittrex’s US and global businesses, his outlook on security tokens, and how the company is tackling regulatory tightening in an effort to safely enter markets across the world.

In its global business, Stonberg said that Bittrex is testing out lending and staking products as well as dipping its toes into STOs or Security Token Offerings, such as in real estate, stocks, cars, etc. Bittrex test-launched a limited number of what Stonberg termed ‘unsolicited ETFs’ like "Google tokenized and Tesla tokenized" which they are currently only selling to a small subset of clients via their Bermuda license.

As the market matures and investors eventually look for yield in alternative products outside of utility tokens, Bittrex is positioning itself to capture that market share.

“I would expect that as utility tokens become a more mature market, that you won't see those types of returns," said Stonberg.

Stonberg views real estate on the blockchain as one of the use cases that will reshape the industry. In fact, Bittrex is exploring the potential of STO-based tokens, such as in real estate as well as possibly art and IPOs, as Stonberg suggested. “I really think that you're going to see everything being tokenized. Why should we not have real estate tokenized? Like, why should if you're IPOing a company, why does it have to be an IPO? Why can't it be in the venture stage?”

As for where competitors are in the adoption cycle, Stonberg added: "Right now, we're in the fund build phase where the regulators haven't caught on yet." However, he did not comment on whether Bittrex has plans at this time to fundraise or enter public markets.

© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.