Bitstamp, one of the world’s oldest and largest cryptocurrency exchanges, is replacing its CEO for the first time.
Nejc Kodrič, the firm’s CEO who co-founded Bitstamp back in 2011, is stepping down from his position. He will be moving into a new advisory role on the company’s board of directors, Bitstamp executives told Cointelegraph on Oct. 22.
Julian Sawyer, who currently serves as the managing director of the United Kingdom and Europe at major global crypto exchange Gemini, will replace Kodrič, becoming the second CEO in Bitstamp’s history.
The replacement is purportedly a response to the dynamic growth of the exchange over the last nine years.
Kodrič says that Bitstamp has grown far beyond his initial vision since he founded it years ago. At the time, Bitcoin was trading at just a few cents, and Kodrič managed to set up the exchange in a garage with 1,000 euros, two laptops and a server. Now, Bitcoin (BTC) is trading at $12,783, while Bitstamp is one of the world’s top crypto exchanges. Kodrič said:
“After much thought, I’ve come to the conclusion that Bitstamp has already grown beyond what I envisioned it would become and it is time for someone else to expand this vision further. [...] Although we’ve grown exponentially, it still feels like Bitstamp is just getting started.”
Sawyer has over 20 years of banking and fintech experience. In May 2015, Sawyer co-founded Starling Bank, where he served as chief operating officer until 2019. The exec also served as a consultant and advisor to other banks and founded financial management consulting firm Bluerock Consulting.
At publishing time, Bitstamp is ranked the eighth-largest crypto exchange by daily trading volume, which is around $373 million, according to data from CoinGecko. The exchange provides trading services for seven major cryptocurrencies, among them Bitcoin, Ether (ETH) and XRP.