If I have understood the question, you are looking for a one-click "change issue type to release". The closest you can get on Cloud is to make sure the "issue type" is on the "edit" screen, and that "Change request" and "Release" issue types have the same configuration (workflow and fields). You'll then be able to quick-edit the issue type from the issue view. Not quite one-click, but close.
If the configurations are different, then it's not possible - you will need to use "move issue" to change the issue type, as JIRA needs to validate the effects of changing the configuration.
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