In a Pivotal Moment for Canadian Crypto, Kraken Approved as Restricted Dealer

Kraken Deepens Canadian Presence with Regulatory Green Light and Free Deposit Feature

Kraken has secured official registration as a restricted dealer in Canada, enabling the crypto exchange to legally serve Canadian customers under the nation’s evolving securities regulations.

The company shared the news on Tuesday, noting that the registration follows a lengthy process of close collaboration with Canadian regulators—particularly the Ontario Securities Commission (OSC). As part of the process, Kraken upgraded its internal controls and compliance infrastructure to align with heightened expectations for investor protection.

To support its growing presence in Canada and the broader North American market, Kraken has tapped fintech veteran Cynthia Del Pozo as General Manager for the region. She will oversee strategic growth initiatives, regulatory relations, and business operations.

“Canada stands at an inflection point when it comes to crypto adoption,” said Del Pozo. “Investor appetite—both institutional and retail—is steadily increasing, and we’re proud to support this movement with safe, accessible tools.” She cited a recent Kraken survey that found 30% of Canadian investors already hold cryptocurrency.

In an effort to lower the barrier for new users, Kraken is rolling out free Interac e-Transfer deposits for Canadian clients. The feature aims to make onboarding simpler and more cost-effective, particularly for first-time buyers.

Kraken says it has doubled its user base and employee count in Canada over the last two years and now manages over CA$2 billion in customer assets.

The company will also have a presence at CoinDesk’s Consensus 2025 conference in Toronto, where Chief Marketing Officer Mayur Gupta will speak about Kraken’s growth strategy and vision for the future of crypto in Canada.