Kraken Sinks Its Tentacles into Canada: What You Need to Know

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🚨 Kraken Sinks Its Tentacles into Canada: What You Need to Know 🚨

Kraken Sinks Its Tentacles into Canada: What You Need to Know

Cryptocurrency exchange Kraken has finally gotten its claws on a Restricted Dealer registration in Canada. Ah, the sweet taste of victory! 🎉 After completing a pre-registration undertaking (PRU) process with the Canadians, Kraken is now under the watchful eye of the Ontario Securities Commission (OSC).

But that’s not all, folks! Kraken has also appointed Cynthia Del Pozo as its new General Manager for North America. Del Pozo will be the one to oversee Kraken’s growth initiatives in Canada, because who better to do that than someone with nearly 15 years of experience in corporate development, operations, and fintech consulting? 🤔

Kraken Completes PRU Process In Canada

Kraken’s Restricted Dealer registration is a big deal, folks. It means the exchange has completed a thorough pre-registration undertaking (PRU) process with Canadian regulators. And by “thorough,” I mean they had to jump through a bunch of hoops and meet all sorts of requirements. But hey, it was worth it, because now Kraken is officially a Restricted Dealer! 🎉

According to the Canadian Securities Administrators (CSA), the Restricted Dealer registration is one of eight firm registration types in Canada. Yeah, it’s a real mouthful. But basically, it means Kraken has to follow some specific rules and regulations set by securities regulators. No big deal, right? 😒

Kraken’s regulatory achievement comes at a time when the Canadian crypto sector is going through some changes. Remember when Gemini announced it was leaving the Canadian exchange market? Yeah, that was a real shocker. But Kraken is all, “Hey, we’re still here, and we’re still registered!” 🙌

Kraken Introduces New Canadian GM

Del Pozo has joined Kraken to lead its Canadian operations as the new General Manager for North America. She’s got the skills and experience to make Kraken’s expansion across Canada a success. And by “expansion,” I mean she’ll be making sure Kraken is compliant with all the regulations and whatnot. Yay, bureaucracy! 🎉

“Canada is at a turning point for crypto adoption, with a growing number of investors and institutions recognizing digital assets as a vital part of the financial future. I’m thrilled to join Kraken’s mission at this critical moment, and to lead our expansion efforts, ensuring we continue to serve our clients long-term with innovative and compliant products,” said Del Pozo.

In her role, Del Pozo will focus on strengthening Kraken’s regulatory relationships and scaling the company’s presence throughout North America. Because who doesn’t love a good game of regulatory Jenga? 🤣

Del Pozo also commented on the registration achievement: “This Restricted Dealer registration is testament to the high bar Kraken has always set for consumer protection, client service, and robust security. We’re excited to continue expanding our world-class investment platform and to deliver innovative products that provide real-world utility to Canadians.”

The Exchange’s Continued Growth In Canada

Over the past two years, Kraken has shown steady expansion in Canada while working through the PRU process with regulators. During this period, the exchange has doubled its team size and monthly active users. Yeah, that’s what I call growth! 🚀

According to the official blog post figures, the firm now has more than $2 billion CAD in total client assets under custody. Kraken has also increased support for some of the most popular cryptocurrencies. It provides several CAD spot trading pairs that enable Canadians to trade crypto without paying expensive foreign exchange fees. Because who doesn’t love saving money? 💸

According to Innovative Research Group’s 2024 Investor Survey, 30% of Canadian investors currently own or have owned cryptocurrencies. Likewise, a KPMG Canada survey discovered that 30% of Canadian institutional investors now have exposure to cryptocurrencies. Yeah, it’s a crypto party in Canada! 🎉

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2025-04-02 17:35