Kraken Registers as Restricted Dealer in Canada, Rolls Out Free Transfers for Users

Kraken has officially registered as a restricted dealer in Canada, clearing the way for the exchange to continue serving Canadian crypto traders under the country’s evolving regulatory regime.

The announcement, made Tuesday, follows an extensive regulatory approval process, during which Kraken collaborated closely with Canadian authorities—including the Ontario Securities Commission (OSC)—to enhance its compliance systems and meet new investor protection standards.

To lead its North American strategy, Kraken appointed fintech executive Cynthia Del Pozo as general manager for the region. She will be responsible for business development, regulatory engagement, and operational oversight across Canada and the U.S.

“Canada is entering a pivotal phase for crypto,” Del Pozo said, noting that roughly 30% of Canadian investors already hold digital assets, based on internal Kraken research.

As part of its local push, Kraken will now offer free Interac e-Transfer deposits to Canadian users, aiming to simplify and encourage platform onboarding.

Kraken reported that its Canadian team and user base have both doubled over the past two years, with over CA$2 billion in assets now under management in the country.

Kraken Chief Marketing Officer Mayur Gupta is scheduled to speak at CoinDesk’s Consensus 2025 event in Toronto on May 14-15, where he will discuss the company’s growth and regulatory vision.