We are pleased to announce that Kraken’s Canadian operations have exceeded CA$2 billion in client assets and cash in custody.
“Reaching the $2 billion milestone is a testament to our continued efforts to provide Canadians with a superior crypto trading experience,” said Alex Mehrdad, Managing Director of Kraken Canada. “As we have doubled in size in Canada, we have also steadily invested in our product offering to ensure Canadians can explore the breadth of the crypto ecosystem through our range of innovative products.”
Throughout 2024, we have also focused on closing the knowledge gap that has historically held back adoption of this asset class locally. According to the Ontario Securities Commission, last year only 54% of Canadians were able to give a basic definition of crypto.
While this is an improvement from 2022, where only 51% could provide a basic definition, there is room for improvement as we approach 2025, and Kraken is committed to playing a leading role in accelerating this learning curve.
Mehrdad continued: “While we are pleased with this progress, we realize that our mission is not complete and most people still have not made their first crypto transaction. We are committed to reducing the barriers that prevent some Canadians from accessing the asset class and ensuring that everyone can achieve their own version of financial freedom through cryptoassets.
These materials are intended for general information purposes only and do not constitute investment advice or a recommendation or solicitation to buy, sell, stake or hold any crypto-asset or to engage in any trading strategy. specific trading. Kraken does not and will not endeavor to increase or decrease the price of any particular cryptoasset it makes available. Some crypto products and markets are regulated and others are not; In any event, Kraken may or may not be required to be registered or otherwise authorized to provide specific products and services in each market, and you may not be protected by government compensation programs and/or regulatory protections. The unpredictable nature of crypto-asset markets can result in losses of funds. Tax may be payable on any returns and/or increases in the value of your cryptoassets and you should seek independent advice on your tax situation. Geographic restrictions may apply. See legal notices for each jurisdiction here.
