Kraken’s Canadian operation exceeds $2 billion CAD in combined client assets under custody
We are pleased to share that Kraken’s Canadian operation has surpassed $2 billion CAD of client assets and cash under custody.
“Reaching the $2 billion milestone is testament to our ongoing effort to provide Canadians with a superior crypto trading experience,” said Alex Mehrdad, Kraken Canada General Manager. “As we’ve doubled in size within Canada, we’ve 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’ve also placed an emphasis on bridging the knowledge gap that has historically held back adoption in this asset class locally. According to the Ontario Securities Commission, last year only 54% of Canadians could provide a basic definition of crypto.
While this is an improvement from 2022, when only 51% could provide a basic definition, there is room for improvement as we enter 2025, and Kraken is dedicated to playing a leading role in accelerating this learning curve.
Mehrdad continued: “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. We’re committed to reducing barriers that are holding some Canadians back from entering the asset class and to ensure that everyone can achieve their own version of financial freedom through crypto assets.”
These materials are for general information purposes only and are not investment advice or a recommendation or solicitation to buy, sell, stake or hold any cryptoasset or to engage in any specific trading strategy. Kraken does not and will not work to increase or decrease the price of any particular cryptoasset it makes available. Some crypto products and markets are regulated and others are unregulated; regardless, Kraken may or may not be required to be registered or otherwise authorised to provide specific products and services in each market, and you may not be protected by government compensation and/or regulatory protection schemes. The unpredictable nature of the cryptoasset markets can lead to loss of funds. Tax may be payable on any return and/or on any increase in the value of your cryptoassets and you should seek independent advice on your taxation position. Geographic restrictions may apply. See Legal Disclosures for each jurisdiction here.
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