We’re also excited to welcome Cynthia Del Pozo as our new General Manager for North America. Cynthia will lead Kraken’s next phase of growth across Canada, strengthening our regulatory, political and commercial relationships as we continue to scale our presence across North America.
To celebrate this new chapter and reaffirm our commitment to Canada, we’re now offering free Interac e-Transfer deposits to all Canadian clients, furthering our efforts to make crypto investing more accessible, affordable and seamless.
A compliance milestone years in the making
This achievement marks the culmination of a rigorous pre-registration undertaking (PRU) process, during which Kraken consistently enhanced its governance, security and compliance protocols to meet the highest industry standards.
As a result, our Canadian clients now benefit from a solid regulatory foundation, ensuring access to some of the most innovative and secure crypto products in the local ecosystem under the supervision of the Ontario Securities Commission (OSC).
Introducing new Canadian GM
We’re thrilled to welcome Cynthia Del Pozo to lead our Canadian operations. With nearly 15 years experience in corporate development, operations and fintech consulting, Cynthia is exceptionally well-equipped to lead Kraken’s expansion and engagement across Canada at this pivotal time for crypto’s evolution.
“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. I’m thrilled to join Kraken’s mission at this critical moment, and to lead our expansion efforts, ensuring we continue to serve our clients long-term with innovative and compliant products,” said Del Pozo.
Kraken’s continued growth in Canada
Over the past two years, Kraken’s Canadian operation has grown exponentially, reinforcing our long-term commitment to the market and our clients:
Doubled both our team size and monthly transacting users during the PRU process
Exceeded $2 billion CAD in combined client assets under custody
Expanded support for many popular cryptoassets, while offering several CAD spot trading pairs, allowing Canadians to trade crypto without incurring costly FX fees.
Positioned ourselves to unlock institutional demand for high-quality crypto products and services
Del Pozo continued: “This Restricted Dealer registration is testament to the high bar Kraken has always set for consumer protection, client service, and robust security. We’re excited to continue expanding our world-class investment platform, and to deliver innovative products that provide real-world utility to Canadians.”
Canada’s role in crypto adoption and the road ahead
Canada has played a pioneering role in the global crypto adoption, being the first country to:
Install a public Bitcoin ATM in downtown Vancouver
Launch spot Bitcoin and Ethereum ETFs in 2021
Crypto adoption is accelerating in Canada, signaling renewed long-term confidence in the crypto asset class:
30% of Canadian investors have or currently hold cryptoassets, according to Innovative Research Group’s 2024 Investor Survey
30% of Canadian institutional investors had crypto exposure, according to a KPMG Canada survey
54% of Canadians can define crypto, up from 51% in 2022, according to the OSC’s 2023 estimates. Additionally, 34% believe crypto will be a key part of the future of finance.
With regulatory clarity secured, a new leader at the helm, and an expanding suite of innovative crypto products, Kraken is well-positioned to shape the future of digital finance in Canada.
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