The approval follows a detailed pre-registration process in which the company worked on its compliance, governance, and security measures to align with industry standards.
As part of its ongoing expansion, Kraken has also appointed a new General Manager for North America. A company representative will oversee operations in Canada and focus on regulatory, political, and commercial engagement to support the firm’s next phase of growth in the region.
The process to secure this registration involved extensive regulatory engagement, ensuring Kraken's platform meets enhanced investor protection requirements. Canadian clients will now have access to crypto products under a regulatory structure designed to provide greater security and transparency.
To mark this step forward, Kraken has introduced free Interac e-Transfer deposits for Canadian users, aiming to make digital asset transactions more accessible and cost-effective.
Over the past two years, Kraken has significantly increased its presence in Canada. Additionally, it has expanded its support for various cryptocurrencies, including several CAD trading pairs, to facilitate cost-efficient transactions for Canadian investors.
According to a company representative, Canada is witnessing increasing interest in digital assets from both retail and institutional investors. A growing number of market participants recognise crypto’s role in the future financial landscape, and Kraken aims to support this trend by offering compliant and innovative services.
Canada has played an early role in the adoption of digital assets. It was the first country to introduce a public Bitcoin ATM in Vancouver and among the first to launch spot Bitcoin and Ethereum exchange-traded funds (ETFs) in 2021.
Recent surveys cited by the official press release suggest that confidence in crypto assets is rising, with approximately 30% of Canadian investors having exposure to digital assets, while over half of Canadians can define cryptocurrency, a figure that has grown in recent years.
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