Kraken secures Restricted Dealer registration in Canada

Kraken secures Restricted Dealer registration in Canada.
Cynthia Del Pozo has been named General Manager for North America.
Kraken’s Canadian operations have doubled over the past two years, exceeding $2B CAD in assets.

Kraken has secured a Restricted Dealer registration in Canada, marking a significant milestone in its commitment to providing Canadian crypto investors with a secure and regulated trading environment.

This achievement follows a rigorous pre-registration undertaking process with Canadian authorities, which enhanced the company’s governance, security, and compliance protocols to meet the highest industry standards.

Kraken now under the oversight of the Ontario Securities Commission

The new registration places Kraken under the oversight of the Ontario Securities Commission, ensuring that its innovative crypto products are offered within a framework designed to protect consumers and uphold investor confidence.

This regulatory achievement comes at a time when Canada is emerging as a global leader in cryptocurrency adoption, with the country having pioneered initiatives such as the first public Bitcoin ATM in Vancouver and the launch of spot Bitcoin and Ethereum ETFs.

Recent surveys indicate that around 30% of Canadian investors and institutional players have exposure to cryptocurrencies, and a growing number of Canadians view digital assets as a critical component of the financial future.

Also, over the past two years, Kraken’s Canadian operations have witnessed substantial growth. The company has doubled its team size and monthly transacting users while surpassing CAD 2 billion in client assets under custody.

In addition, Kraken now offers free Interac e-Transfer deposits, making crypto investing more accessible and affordable for Canadian clients by reducing transaction costs and eliminating foreign exchange fees.

Cynthia Del Pozo appointed new General Manager for North America

In tandem with the registration in Canada, Kraken has appointed Cynthia Del Pozo as the new General Manager for North America.

With nearly 15 years of experience in corporate development, operations, and fintech consulting, Del Pozo is expected to drive the company’s expansion across Canada. Her appointment signals Kraken’s intent to further strengthen its regulatory, political, and commercial relationships in the region, while continuing to scale its market presence.

Notably, Kraken’s success in obtaining a Restricted Dealer registration not only reaffirms its commitment to regulatory compliance but also positions the exchange at the forefront of Canada’s crypto market evolution.

With a robust regulatory foundation, a new leader at the helm, and a suite of innovative products tailored for local investors, Kraken is well-prepared to capitalize on the expanding opportunities in the digital finance sector.