Digital

Crypto Exchange Kraken Strengthens UK Presence Amid Regulatory Clarity

Kraken, a prominent cryptocurrency exchange, has taken a significant step in advancing its operations in the United Kingdom by appointing Bivu Das as its new Managing Director for UK operations. This strategic move reflects Kraken’s commitment to expanding its presence in one of its most important markets.

Bivu Das brings to Kraken an impressive two-decade-long career in commercial enterprise and fintech strategy development. Previously, he served as the Head of Operations Strategy at Starling Bank, which highlights his expertise in the financial and technology sectors.

Das’s appointment is particularly timely as the United Kingdom is actively working towards establishing itself as a recognized global hub for cryptocurrencies. The UK has introduced new crypto financial promotion and regulatory frameworks that provide clarity for companies like Kraken, enabling them to harness the opportunities within the crypto asset space.

In his role as Managing Director, Bivu Das will be responsible for overseeing Kraken’s regulatory, political, and commercial relationships as the firm expands its presence across the country. His extensive experience also includes co-founding a crypto startup focused on providing a user-friendly payment gateway for the digital asset ecosystem.

Kraken has been a strong advocate for the transformative potential of crypto assets in reshaping how people engage with financial services. In the UK, Kraken is a leading provider of cryptocurrency trading volume denominated in pounds, and it has been actively expanding its services beyond direct cryptocurrency trading.

Having acquired a London-based crypto firm in 2019, Kraken is now seeking additional permissions to custody more client assets in the UK. This move reflects the company’s commitment to offering a comprehensive suite of crypto services while adhering to evolving regulatory guidelines.

Bivu Das’s appointment follows the departure of Blair Halliday, who is exploring new opportunities after joining Kraken last October. Under Halliday’s leadership, Kraken recognized the potential of Britain’s exit from the European Union as a turning point in the country’s crypto ambitions.

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Kraken is rapidly growing its team in the UK, which currently consists of over 275 members. As part of its global expansion plans, the company is set to increase its marketing efforts in the UK, including physical advertisements in key strategic locations like London. Additionally, Kraken intends to offer trading in US-listed stocks and exchange-traded funds to both US and UK customers through a specialized unit known as Kraken Securities.

The UK’s Financial Conduct Authority (FCA) has introduced new regulations surrounding crypto promotions to protect consumers, demonstrating the evolving regulatory landscape in the crypto space. Kraken’s commitment to compliance with these regulations, combined with its strategic expansion plans under Bivu Das’s leadership, marks an exciting new phase in the company’s journey in the emerging crypto market in the UK.

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