Cryptocurrency exchange Kraken has obtained a Restricted Dealer registration from the Ontario Securities Commission (OSC), marking a major step forward in its Canadian operations. The registration, granted on April 1, allows Kraken to continue serving Canadian investors while operating under regulatory oversight.
Along with this regulatory milestone, Kraken announced the appointment of Cynthia Del Pozo as General Manager for North America. Del Pozo brings nearly 15 years of experience in corporate development, operations, and fintech consulting to lead Kraken's expansion across Canada.
The registration comes after Kraken completed a comprehensive pre-registration undertaking (PRU) process, during which the company enhanced its governance, security and compliance protocols. Under the new registration, Kraken's Canadian operations will be supervised by the OSC.
Kraken has seen substantial growth in Canada over the past two years, doubling both its team size and monthly active users. The exchange now manages over $2 billion CAD in client assets under custody and has expanded its cryptocurrency offerings to include several CAD trading pairs.
"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," said Del Pozo. She emphasized Kraken's commitment to providing innovative and compliant products to Canadian clients.
Recent data shows increasing crypto adoption in Canada:
- 30% of Canadian investors currently hold or have held cryptoassets
- 30% of Canadian institutional investors have crypto exposure
- 54% of Canadians can define crypto, up from 51% in 2022
The registration reinforces Kraken's position in Canada at a time when some competitors, like Gemini exchange, have exited the market. To celebrate this milestone, Kraken is now offering free Interac e-Transfer deposits to all Canadian clients, aiming to make crypto investing more accessible and affordable.