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Kraken’s Strategy for Canadian Market Growth

Crypto | Oct 4, 2023

Kraken blog post Canada updates - Kraken’s Strategy for Canadian Market Growth

Image courtesy of Kraken blog

Kraken bolsters its Canadian offering

In a recent blog post titled "Kraken bolsters its Canadian offering" Kraken discusses several key updates regarding their services in Canada.

About Kraken

  • Kraken, founded in 2011 by Jesse Powell, is based in San Francisco, California, USA. The platform was developed in response to the catastrophic failure of the Mt. Gox exchange and was designed with the aim of providing a secure and advanced option for cryptocurrency traders. Since its inception, Kraken has grown to become one of the largest and most respected cryptocurrency exchanges in the world.
  • In March 2023, Kraken filed their pre-registration undertaking (PRU) with the OSC allowing them to operate while their application is reviewed.  The OSC hosts a registration and pre-registration page on their website confirming that Kraken (Payward Canada Inc.) had filed their PRU.
  • Kraken emphasizes its commitment to adhering to local regulations while providing Canadians with optimal crypto access.

Canadian Updates

1. Expanded Interac e-Transfer Funding

  • Kraken has introduced Interac e-Transfer as a funding option for all Canadian clients, available across its Mobile and Web platforms.
  • Interac e-Transfer, which is utilized by 90% of Canadians to send CAD electronically, facilitates over a billion transactions annually.
  • To celebrate the new feature, Kraken has lowered its Interac e-Transfer fee to 0.95%.

See:  Bitbuy and Localcoin Partner Boosting Crypto Access in Canada

2. New Coin Listings

  • Kraken is set to list eight new crypto assets for trading in Canada, which include Astar (ASTR), Audius (AUDIO), Centrifuge (CFG), Moonbeam (GLMR), GensoKishi Metaverse (MV), Perpetual Protocol (PERP), Sui (SUI), and Woo Network (WOO).
  • More assets are expected to be added over time.

3. Board Appointment

  • Dina Mainville, a cryptocurrency regulatory compliance specialist and founder of Collisionless, has been appointed to the Payward Canada board of directors.
  • Dina has extensive knowledge in money laundering controls for blockchain assets and has advised numerous Global Fortune 500 companies on blockchain initiatives.  She has also trained numerous government and law enforcement professionals on cryptocurrency forensic investigation strategies.

NCFA Jan 2018 resize - Kraken’s Strategy for Canadian Market GrowthThe National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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