Crypto exchange platform Bitstamp has reportedly appointed Stephen Bearpark – previously the finance director for tech heavyweight Amazon – to become its chief financial officer.

Specifically, Bitstamp reportedly disclosed details of its initiative to bring Bearpark onboard, where he will be in charge of supervising the financial development of the exchange. 

Bearpark was a former executive staff at Amazon’s EU Transportation division in Luxembourg for over three years, and was a finance director at financial services firm Barclays up to 2008. 

“By bringing Stephen onboard, Bitstamp is continuing to bring in the best talent from the biggest names in tech to help us deliver new value to users as mainstream adoption of cryptocurrencies continues” Head of Bitstamp – Julian Sawyer – reportedly remarked. 

The former Amazon executive reportedly believed that the crypto sector is experiencing a boom with major growth throughout the past year and particularly in the first quarter of 2021.

In April, the combined market capitalization of every virtual coin reportedly achieved a landmark figure – $2 trillion – bringing the overall value of the market to surpass that of tech heavyweight Apple. 

Bearpark reportedly referred to his new position at Bitstamp as coming at a “pivotal point” in the sector. He will be taking the mantle from group chief financial officer Edward Kemp, who departed from the firm in March 2021. 

Bitstamp is reportedly among the longest-running crypto exchanges throughout the industry, with business organizations located in several nations. In 2020, the firm has appointed new individuals to take up leadership roles, with former Gemini executive Julian Sawyer becoming the firm’s new CEO and Sameer Dubey its chief operating officer.