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Kraken Secures Restricted Dealer Status in Canada Amid 'Turning Point' for Crypto in the Country
Kraken announced it will offer free Interac e-Transfer deposits for Canadian users to reduce friction for newcomers to the platform.
Updated Apr 7, 2025, 5:55 p.m. Published Apr 2, 2025, 10:55 p.m.
What to know:
- Kraken has registered as a restricted dealer in Canada.
- Cynthia Del Pozo has been appointed as general manager for North America to lead Kraken's Canadian expansion.
- Kraken will offer free Interac e-Transfer deposits to Canadian users, aiming to reduce entry barriers for newcomers.
Crypto exchange Kraken has registered as a restricted dealer in Canada, allowing the exchange to continue offering crypto trading services to Canadian users under the country’s evolving regulatory framework.
The registration, announced on Tuesday, comes after 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).
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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,” said Del Pozo in a statement, pointing to growing interest from both retail and institutional investors. A recent survey cited by Kraken found that 30% of Canadian investors currently hold crypto assets.
Kraken also announced it will offer free Interac e-Transfer deposits for Canadian users, a move aimed at reducing friction for newcomers to the platform. The exchange claims 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.
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.
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