- Kraken obtained restricted dealer registration from the Ontario Securities Commission (OSC), reinforcing its position as a stable and compliant crypto exchange in Canada after Gemini’s exit.
- Kraken expanded its Canadian operations by hiring Cynthia Del Pozo, a former Gemini executive, as its new general manager to drive growth and compliance.
- With a long-standing presence in Canada since 2011, Kraken aims to leverage its regulatory approval and leadership expertise to enhance digital asset adoption and compliance.
Kraken has officially obtained restricted dealer registration from the Ontario Securities Commission (OSC), making it a more stable player in Canada’s digital money exchange market. The exchange won this approval on April 1 after competitor Gemini departed Canada last year.
Kraken shows its commitment by receiving OSC registration as a restricted dealer while managing 2 billion Canadian dollars ($1.4 billion) in investment assets for its customers in Canada.
As part of its North American expansion, the company hired Cynthia Del Pozo as its new general manager during this period. Del Pozo comes from Gemini, where she worked as their Head of Strategy, to join Kraken when the company increases its Canadian operations.
Canadian Securities Administrators (CSA) requires theaters to obtain a special legal status called restricted dealer registration for their operations. Entities registered under this category must follow security regulator conditions that differ from investments through investment dealers or managers. The registration gives Kraken’s Canadian clients a reliable regulation system because the OSC supervises their transactions.
Kraken Expands After Gemini’s Exit
The exchange made their stronger Canadian plans after Gemini pulled out of the Canadian market and left many in crypto shocked. The quick exit of Gemini led people to review cryptocurrency laws in the country.
Del Pozo expects more growth for crypto adoption in Canada after Gemini left the market. She saw the introduction of digital assets as a transformation moment in the financial industry where society understands their importance better. She added:
“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.”
Kraken continues its established position in Canada after receiving new authorizations.
According to their official company blog, Kraken introduced its services to Canada in 2011 by launching a crypto trading platform named CaVirtEx in Calgary. In 2016, the exchange became the owner of the platform to further grow its position in Canada.
As a Canadian crypto business, the exchange plans to use its fresh regulatory approval and senior leadership talent to bring growing digital asset compliance to the local market.
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