We’re excited to announce that Kraken has formally obtained a Restricted Vendor registration in Canada, reaffirming our dedication to serving Canadian crypto buyers whereas adhering to enhanced investor safety steerage for crypto exchanges.
We’re additionally excited to welcome Cynthia Del Pozo as our new Basic Supervisor for North America. Cynthia will lead Kraken’s subsequent section of progress throughout Canada, strengthening our regulatory, political and business 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 shoppers, furthering our efforts to make crypto investing extra accessible, inexpensive 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 persistently enhanced its governance, safety and compliance protocols to fulfill the very best business requirements.
Because of this, our Canadian shoppers now profit from a strong regulatory basis, guaranteeing entry to among the most modern and safe crypto merchandise within the native ecosystem below the supervision of the Ontario Securities Fee (OSC).
Introducing new Canadian GM
We’re thrilled to welcome Cynthia Del Pozo to steer our Canadian operations. With practically 15 years expertise in company growth, operations and fintech consulting, Cynthia is exceptionally well-equipped to steer Kraken’s enlargement 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 buyers and establishments recognizing digital belongings as an important a part of the monetary future. I’m thrilled to hitch Kraken’s mission at this essential second, and to steer our enlargement efforts, guaranteeing we proceed to serve our shoppers 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 shoppers:
- Doubled each our crew dimension and month-to-month transacting customers through the PRU course of
- Exceeded $2 billion CAD in mixed consumer belongings below custody
- Expanded assist for a lot of common cryptoassets, whereas providing a number of CAD spot buying and selling pairs, permitting Canadians to commerce crypto with out incurring pricey FX charges.
- Positioned ourselves to unlock institutional demand for high-quality crypto services and products
Del Pozo continued: “This Restricted Vendor registration is testomony to the excessive bar Kraken has at all times set for client safety, consumer 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 function in crypto adoption and the street forward
Canada has performed a pioneering function 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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