Kraken, a leading cryptocurrency exchange, has announced reaching over $2 billion CAD in client assets and cash under custody in Canada. This milestone reflects the platform’s growing local user base and highlights its commitment to fostering a robust cryptocurrency trading experience in the region.

Boosting Canadian Crypto Awareness

In 2024, Kraken focused on bridging the knowledge gap surrounding digital assets in Canada. According to a report by the Ontario Securities Commission, only 54% of Canadians could define cryptocurrency in 2023, up slightly from 51% in 2022. Kraken has prioritised education, aiming to improve awareness and understanding as it expands its operations.

Investments in Innovation

Alex Mehrdad, General Manager of Kraken Canada, attributed the success to the platform’s evolving product offerings. “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,” Mehrdad stated.

Looking Ahead to 2025

As Kraken moves into 2025, the company has reiterated its commitment to empowering Canadians through enhanced education and a superior trading experience. The exchange aims to play a significant role in driving crypto adoption in Canada by addressing barriers to entry and fostering an informed user base.

Kraken’s focus on innovation and education underscores its efforts to solidify its position in the Canadian crypto market.