Kraken Secures Restricted Dealer Registration in Canada, Appoints Cynthia Del Pozo as New GM for North America

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, a cryptocurrency exchange, has reportedly secured a Restricted Dealer registration in Canada. This marks a significant milestone in the company’s journey to provide Canadian crypto investors with a safe and regulated trading environment.

The development was announced in a press release by Kraken on Thursday, highlighting the completion of a substantial pre-registration undertaking process with Canadian authorities.

This process involved enhancing the company’s governance, security, and compliance protocols to meet the highest industry standards.

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. The country is known for having launched the first public Bitcoin ATM in Vancouver back in 2011, and more recently, introducing spot Bitcoin and Ethereum ETFs.

According to recent surveys by Finder and BlockChain Research, approximately 30% of Canadian investors and institutional players have exposure to cryptocurrencies.

Moreover, a growing number of Canadians view digital assets as a critical component of the financial future.

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

In a move to make crypto investing more accessible and affordable for Canadian clients, Kraken has also begun offering free Interac e-Transfer deposits.

This new offering reduces transaction costs and eliminates foreign exchange fees, enabling seamless deposits in Canadian dollars.

In tandem with the registration in Canada, Kraken is also appointing 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, continuing to scale its market presence.

As such, the company is actively seeking to expand its product offerings and services to cater to the evolving needs of the Canadian market.

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.