Kraken, a prominent cryptocurrency exchange, has attained restricted dealer status in Canada, marking a significant milestone in the country's evolving crypto landscape.

To facilitate an easier entry for new users, Kraken has announced that it will be offering no-cost Interac e-Transfer deposits to Canadian customers. This move is part of the platform's efforts to enhance accessibility and reduce barriers for those venturing into the world of cryptocurrencies.

Undergoing a rigorous registration process lasting several years, Kraken met stringent criteria set by Canadian authorities, particularly the Ontario Securities Commission (OSC), ensuring compliance with regulations aimed at safeguarding investors' interests and promoting good governance practices.

In light of this development, Cynthia Del Pozo has been appointed as the General Manager for North America to spearhead Kraken's expansion in Canada. A seasoned professional in fintech and operations, Del Pozo will be responsible for driving strategies, engaging with regulators, and fostering business growth within the region.

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.

• 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.

Del Pozo emphasized that Canada is witnessing a pivotal moment in crypto adoption, pointing out the increasing interest from both individual and institutional investors. Recent data shared by Kraken reveals that about 30% of Canadian investors are already involved in holding digital assets.

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).

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.