KEY TAKEAWAYS
- Kraken’s Canadian operations have surpassed $2 billion CAD in client assets, marking a significant milestone for the crypto trading platform.
- The company has doubled its size in Canada, enhancing its product offerings to provide a superior crypto trading experience.
- Kraken is actively working to bridge the cryptocurrency knowledge gap in Canada, aiming to increase adoption and financial freedom through education.
Kraken’s Canadian operations have achieved a significant milestone, surpassing $2 billion CAD in client assets and cash under custody. This achievement positions Kraken as one of the largest crypto trading platforms in Canada, both in terms of workforce size and client assets under custody.
Alex Mehrdad, Kraken Canada General Manager, commented on the milestone, stating, “Reaching the $2 billion milestone is testament to our ongoing effort to provide Canadians with a superior crypto trading experience.” He noted that the company has doubled in size within Canada and has invested in its product offerings to allow Canadians to explore the crypto ecosystem through a range of innovative products.
Bridging the Knowledge Gap in Cryptocurrency
Throughout 2024, Kraken has focused on addressing the knowledge gap that has historically hindered cryptocurrency adoption in Canada. According to the Ontario Securities Commission, only 54% of Canadians could provide a basic definition of cryptocurrency last year, a slight improvement from 51% in 2022.
Mehrdad emphasized the importance of education in the crypto space, stating, “While we’re pleased with this progress, we’re aware that our mission is not complete and that most people have still not made their first crypto transaction.” Kraken is committed to reducing barriers and ensuring that Canadians can achieve financial freedom through crypto assets.
For more details, the announcement can be found here.
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