Cynthia del Pozo replaces Alex Mehrdad, who held the role for a little over a year.
Kraken Named Cynthia del Pozo as the new leader in her Canadian activities and has become the latest international cryptocurrency exchange to guarantee a limited dealership license in Canada.
Del Pozo will direct the next Kraken growth phase across Canada, said the company based in San Francisco blogAdding that it will strengthen the regulatory, political and commercial relations of exchange because it evolves its presence across North America. Del Pozo takes the place of Alex Mehrdad, who occupied the role for a little over a year after taking the reins of Mark Greenberg when he was promoted a world role in August.
Kraken said that he had strengthened his governance, security and compliance protocols to “respect the highest standards in the industry”.
Mehrdad left Kraken last month, according to his Linkedin profile. A Kraken spokesperson told Betakit in an e-mail statement that Mehrdad had played a major role in the process of securing the limited dealer license.
The spokesman added that he had left to pursue new opportunities which “align more closely with his career goal”, and added that he will always remain a krakenite in the soul “.
According to Del Pozo Linkedin profileShe previously was CEO of Gemini Canada. Despite the filing of a pre-registration company (PRU) to become a limited merchant himself, Gemini, founded by billionaires Tyler and Cameron Winklevoss, suddenly left Canada alongside other exchanges last year after Canadian securities administrators (CSA) announced more strict restrictions on crypto exchanges.
“With almost 15 years of experience in business development, Fintech operations and advice, Cynthia is exceptionally well equipped to direct the expansion and commitment of Kraken through Canada at the moment of the evolution of cryptography,” said the blog post.
Del Pozo takes the lead on Canadian Kraken operations because she obtains her limited dealership license, which she has continued since she entered a PRU with the Ontario securities commission (CSO) in 2023, which granted conditional approval to operate while continuing the complete recording. A limited dealer is a special recording for companies that do not correspond to other categories such as investments, common funds or exempt markets, where securities regulators adapt the registration with specific requirements or conditions.
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Kraken said that the company has strengthened its governance, security and compliance protocols to “meet the highest standards in industry”.
“This foundation supports our vision of expanding product access, improving user experience and contribution to the evolution of a secure and innovative digital asset environment in Canada,” Kraken spokesperson in Betakit told.
Kraken Ontario securities commission (OSC) The decision, filed under the name of the parent company Payward, presents the commitments of the exchange such as the knowledge rules, the anti-flowage measures and the regular transaction reports to the regulator. Kraken obtained his license almost exactly a year after the Coinbase cryptocurrency giant became the first international crypto exchange to register as a limited reseller in Canada.
According to his OSC file, Kraken intends to request registration as an investment merchant, to request membership of the Canadian Investment Regulatory Organization (CIRO) and to request approval to exploit another negotiation system. The crypto platform based in Montreal Shakepay has become a member of the CIRO earlier this year, offering its customers protections such as compliance monitoring and capital adequacy. Kraken spokesperson said that becoming a member of the CIRO is an “top priority” that unlocks new opportunities to extend his product suite.
Kraken said that his Canadian operation has increased exponentially in the past two years, after having doubled the size of his team and transfered monthly users during the PRU process, and exceeded $ 2 billion in CAD active customers.
Correction (04/04/2024): This story was corrected to note that Alex Mehrdad was the Director General of Canada of Kraken for a little over a year. An earlier version of this story said he had held the role for a little over six months. Betakit regrets the error.
Kraken gracked functionality image via his website.
