Kraken Secures Canadian Registration, Appoints New General Manager

Kraken, a prominent cryptocurrency exchange, has achieved a significant milestone by securing a Restricted Dealer registration in Canada. This development underscores Kraken's dedication to serving Canadian crypto investors while adhering to stringent investor protection guidelines for crypto exchanges. The registration is the result of a meticulous pre-registration undertaking (PRU) process, during which Kraken enhanced its governance, security, and compliance protocols to meet the highest industry standards. This achievement ensures that Canadian clients have access to some of the most innovative and secure crypto products in the local ecosystem, under the supervision of the Ontario Securities Commission (OSC).

In addition to this regulatory milestone, Kraken has appointed Cynthia Del Pozo as the new General Manager for North America. Del Pozo brings nearly 15 years of experience in corporate development, operations, and fintech consulting, making her well-suited to lead Kraken's expansion and engagement across Canada. Del Pozo expressed her enthusiasm for joining Kraken at this critical moment in crypto's evolution, highlighting Canada's growing recognition of digital assets as a vital part of the financial future. She aims to ensure that Kraken continues to serve its clients with innovative and compliant products, driving the company's next phase of growth.

Kraken's Canadian operations have seen exponential growth over the past two years, reinforcing the company's long-term commitment to the market and its clients. During the PRU process, Kraken doubled its team size and monthly transacting users, exceeded $2 billion CAD in combined client assets under custody, and expanded support for many popular cryptoassets. The company has also offered several CAD spot trading pairs, allowing Canadians to trade crypto without incurring costly FX fees. This positions Kraken to unlock institutional demand for high-quality crypto products and services.

Del Pozo emphasized that the Restricted Dealer registration is a testament to Kraken's high standards for consumer protection, client service, and robust security. She expressed excitement about continuing to expand Kraken's world-class investment platform and delivering innovative products that provide real-world utility to Canadians. Canada has played a pioneering role in global crypto adoption, being the first country to install a public Bitcoin ATM in downtown Vancouver and launch spot Bitcoin and Ethereum ETFs in 2021. Crypto adoption is accelerating in Canada, with a growing number of investors and institutions recognizing digital assets as a vital part of the financial future. With regulatory clarity secured, a new leader at the helm, and an expanding suite of innovative crypto products, Kraken is well-positioned to shape the future of digital finance in Canada.