Kraken is doubling down on Canada as other crypto players retreat, securing a restricted dealer registration just months after rival exchange Gemini pulled out of the country.
Announced on April 2nd, the registration underscores Kraken’s commitment to Canadian investors and comes as the exchange holds over $2 billion Canadian dollars—$1.4 billion USD—in custodied assets for its Canadian user base.
Adding to its North American leadership, Kraken has also appointed Cynthia Del Pozo as General Manager. Before joining Kraken in 2025, Del Pozo served as head of strategy at Gemini, bringing insider knowledge of the competitor she’s now stepping in to serve.
According to the Canadian Securities Administrators (CSA), the restricted dealer registration type is tailored for firms “that do not quite fit under any other category” and involves specific requirements from securities regulators. Kraken emphasized that this registration subjects its platform to oversight by the Ontario Securities Commission (OSC), benefiting its Canadian users with a robust regulatory framework.
Despite Gemini’s exit from Canada in late 2024, Del Pozo voiced optimism about the Canadian crypto landscape. “Canada is at a turning point for crypto adoption, with a growing number of investors and institutions recognizing digital assets as a vital part of the financial future,” she stated. Del Pozo, whose LinkedIn profile notes a three-year tenure at Gemini Canada including her role as Head of Strategy and Corporate Development, added she is “thrilled to join Kraken’s mission” and aims to ensure continued service to clients with “innovative and compliant products.”