Kraken Receives Approved Dealer Designation in Canada: A Milestone for Cryptocurrency

Kraken has successfully registered as a restricted dealer in Canada, enabling the exchange to proceed with crypto trading services within the country’s evolving regulatory landscape.

This registration, announced on Tuesday, follows a multi-year preparation phase where exchanges were required to adhere to higher standards of investor security and governance.

Kraken collaborated extensively with Canadian regulators throughout its pre-registration progress, upgrading its compliance systems and internal controls to meet the standards outlined by the Ontario Securities Commission (OSC).

Expansion in Canada

• Kraken appointed Cynthia Del Pozo as the General Manager for North America to direct the company’s Canadian operations.
• The exchange will now provide free Interac e-Transfer deposits for Canadian users, aimed at simplifying entry for newcomers.

“Canada is at a turning point for crypto adoption,” stated Del Pozo, referencing the increased interest from both retail and institutional investors. According to a recent survey, 30% of Canadian investors own crypto assets.

Kraken has more than doubled its workforce and user base in Canada over the past two years, claiming to manage over $2 billion CAD in client assets.

Additionally, Mayur Gupta, Kraken’s Chief Marketing Officer, will feature as a speaker at the CoinDesk’s Consensus 2025 event in Toronto on May 14-15.