Kraken has obtained a Restricted Dealer registration in Canada, enabling it to operate under the regulatory framework established by the Ontario Securities Commission (OSC).
The approval comes after a comprehensive pre-registration process in which the company enhanced its compliance, governance, and security protocols to align with industry standards.
As part of its ongoing expansion, Kraken has appointed Cynthia Del Pozo as the General Manager for North America.
Cynthia will oversee operations in Canada and focus on regulatory, political, and commercial engagement to support the firm’s next stage of growth in the region.
The process to secure this registration involved extensive engagement with regulators to ensure Kraken’s platform meets heightened investor protection requirements.
Canadian clients will now gain access to crypto products within a regulatory structure aimed at providing greater security and transparency.
To commemorate this milestone, Kraken has introduced free Interac e-Transfer deposits for Canadian users, aiming to make digital asset transactions more accessible and cost-effective.
Over the past two years, Kraken has notably increased its presence in Canada.
It has also expanded support for various cryptocurrencies, including several CAD trading pairs, to enable cost-efficient transactions for Canadian investors.
Cynthia said,
“Canada is witnessing increasing interest in digital assets from both retail and institutional investors. A growing number of market participants recognise crypto’s role in the future financial landscape, and Kraken aims to support this trend by offering compliant and innovative services.”
Canada has played a pioneering role in the adoption of digital assets.
It was the first country to introduce a public Bitcoin ATM in Vancouver and was among the earliest to launch spot Bitcoin and Ethereum exchange-traded funds (ETFs) in 2021.
Recent surveys cited in the company’s press release suggest that confidence in crypto assets is on the rise, with around 30% of Canadian investors having exposure to digital assets.
Additionally, over half of Canadians are now able to define cryptocurrency, a figure that has grown steadily in recent years.
Featured image credit: edited from freepik
