Kraken’s Registration as a Restricted Dealer
Crypto exchange Kraken has officially secured its registration as a restricted dealer in Canada. This pivotal move enables the platform to continue providing crypto trading services to Canadian users in line with the country’s evolving regulatory landscape.
A Journey Towards Compliance
The announcement, made on Tuesday, follows a multi-year process that required cryptocurrency exchanges to elevate their standards for investor protection and governance. Kraken has collaborated closely with Canadian regulators during the pre-registration phase, enhancing its compliance systems and internal controls to align with the expectations set forth by the Ontario Securities Commission (OSC).
Strategic Leadership for Canadian Expansion
In a key move to spearhead its growth in Canada, Kraken has appointed Cynthia Del Pozo as the general manager for North America. With extensive experience in fintech and operations, Del Pozo will be responsible for shaping the company’s strategy, engaging with regulators, and driving business development across the region.
Crypto Adoption on the Rise
“Canada is at a turning point for crypto adoption,” Del Pozo stated, highlighting the increasing interest from both retail and institutional investors. A recent survey cited by Kraken revealed that 30% of Canadian investors currently hold cryptocurrencies, indicating a significant shift in investment behaviors.
Enhanced User Experience with Free Deposits
To further facilitate the onboarding process for new users, Kraken has announced the introduction of free Interac e-Transfer deposits for Canadian customers. This initiative aims to minimize barriers for newcomers to the platform. Over the past two years, Kraken has reported a doubling of its team and user base in Canada, now managing over $2 billion CAD in client assets.
Upcoming Engagement at Consensus 2025
Mayur Gupta, Kraken’s chief marketing officer and general manager of growth, is set to speak at CoinDesk’s Consensus 2025 event in Toronto on May 14-15, showcasing the company’s commitment to advancing the crypto landscape in Canada.
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