Crypto exchange Kraken has registered as a restricted dealer in Canada

The registration, announced on Tuesday, comes after a multi-year process that required exchanges to meet higher standards for investor protection and governance.

Crypto exchange Kraken has registered as a restricted dealer in Canada, the exchange announced on Tuesday, allowing it to continue offering crypto trading services to Canadian users.

The move follows a multi-year process that required exchanges to meet higher standards for investor protection and governance.

Kraken said it worked closely with Canadian regulators during this pre-registration phase, upgrading its compliance systems and internal controls to meet expectations set by the Ontario Securities Commission (OSC).

To lead its Canadian expansion, Kraken named Cynthia Del Pozo as general manager for North America. Del Pozo, a fintech and operations veteran, will oversee strategy, regulatory engagement and business development across the region.

“Canada is at a turning point for crypto adoption, with both retail and institutional investors showing keen interest in the industry,” said Del Pozo in the statement. A recent survey by the Statistics Canada found that 30% of Canadian investors currently hold crypto assets, according to Kraken.

Kraken also announced it will offer free Interac e-Transfer deposits for Canadian users.

The exchange said it doubled its team and user base in Canada over the last two years and now manages over $2 billion CAD in client assets.

Mayur Gupta, Kraken’s chief marketing officer and general manager of growth, will be speaking at CoinDesk's Consensus 2025 in Toronto on May 14-15.