We’re excited to announce that Kraken has formally obtained a Restricted Supplier registration in Canada, reaffirming our dedication to serving Canadian crypto traders whereas adhering to enhanced investor safety steering for crypto exchanges.
We’re additionally excited to welcome Cynthia Del Pozo as our new Normal Supervisor for North America. Cynthia will lead Kraken’s subsequent part of progress throughout Canada, strengthening our regulatory, political and industrial relationships as we proceed to scale our presence throughout North America.
To have fun this new chapter and reaffirm our dedication to Canada, we’re now providing free Interac e-Switch deposits to all Canadian purchasersfurthering our efforts to make crypto investing extra accessible, reasonably priced and seamless.
A compliance milestone years within the making
This achievement marks the end result of a rigorous pre-registration enterprise (PRU) course of, throughout which Kraken constantly enhanced its governance, safety and compliance protocols to satisfy the very best business requirements.
In consequence, our Canadian purchasers now profit from a strong regulatory basis, making certain entry to among the most modern and safe crypto merchandise within the native ecosystem beneath the supervision of the Ontario Securities Fee (OSC).
Introducing new Canadian GM
We’re thrilled to welcome Cynthia Del Pozo to guide our Canadian operations. With almost 15 years expertise in company improvement, operations and fintech consulting, Cynthia is exceptionally well-equipped to guide Kraken’s growth and engagement throughout Canada at this pivotal time for crypto’s evolution.
“Canada is at a turning level for crypto adoption, with a rising variety of traders and establishments recognizing digital belongings as a significant a part of the monetary future. I’m thrilled to hitch Kraken’s mission at this crucial second, and to guide our growth efforts, making certain we proceed to serve our purchasers long-term with modern and compliant merchandise,” mentioned Del Pozo.
Kraken’s continued progress in Canada
Over the previous two years, Kraken’s Canadian operation has grown exponentially, reinforcing our long-term dedication to the market and our purchasers:
- Doubled each our staff measurement and month-to-month transacting customers throughout the PRU course of
- Exceeded $2 billion CAD in mixed shopper belongings beneath custody
- Expanded help for a lot of well-liked cryptoassets, whereas providing a number of CAD spot buying and selling pairs, permitting Canadians to commerce crypto with out incurring expensive FX charges.
- Positioned ourselves to unlock institutional demand for high-quality crypto services
Del Pozo continued: “This Restricted Supplier registration is testomony to the excessive bar Kraken has all the time set for client safety, shopper service, and strong safety. We’re excited to proceed increasing our world-class funding platform, and to ship modern merchandise that present real-world utility to Canadians.”
Canada’s position in crypto adoption and the highway forward
Canada has performed a pioneering position within the international crypto adoption, being the primary nation to:
- Set up a public Bitcoin ATM in downtown Vancouver
- Launch spot Bitcoin and Ethereum ETFs in 2021
Crypto adoption is accelerating in Canada, signaling renewed long-term confidence within the crypto asset class:
With regulatory readability secured, a brand new chief on the helm, and an increasing suite of modern crypto merchandise, Kraken is well-positioned to form the way forward for digital finance in Canada.
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