Kraken Appoints New Managing Director for UK Operations
Kraken, a leading cryptocurrency exchange, has appointed Bivu Das as the new managing director for its UK operations. This decision is part of Kraken’s strategic expansion plans in the UK, which is one of its most significant markets.
Das brings two decades of experience in commercial enterprise and fintech strategy development, including his previous role as the head of operations strategy at Starling Bank.
This appointment comes at a pivotal time as the UK is making significant progress towards becoming a recognized global crypto hub.
Kraken Seeks Permission to Custody More Client Assets
The UK’s new crypto financial promotions and regulatory frameworks provide clarity for firms like Kraken to leverage crypto asset opportunities.
Das will oversee Kraken’s regulatory, political, and commercial relationships as the firm expands its national presence. He has co-founded a crypto start-up that provided an easy-to-use payment gateway for the digital asset ecosystem.
“Kraken has long advocated for the potential crypto assets have to transform how everyday people interact with financial services,” Das said.
Kraken is currently the leading provider of cryptocurrency trading volume denominated in pounds in the UK. Additionally, it is seeking permissions to custody more client assets in the country after acquiring a London-based crypto firm in 2019.
Exchange Plans to Offer Stock and ETF Trading
The appointment of Das follows the departure of Blair Halliday, who joined Kraken last October. Kraken plans to increase its marketing efforts in the UK later this year, including physical advertisements in London. The company also intends to offer trading in US-listed stocks and exchange-traded funds (ETFs) to US and UK customers through Kraken Securities.
The UK’s Financial Conduct Authority (FCA) has implemented new rules to protect consumers in the crypto market. Kraken’s commitment to adhering to these regulations, combined with its expansion plans under Das’s leadership, signifies a new phase for the company in the emerging crypto market of the UK.
Hot Take: Kraken Positions Itself for Growth in the UK
Kraken’s appointment of Bivu Das as the managing director for its UK operations reflects the exchange’s strategic plans to expand in one of its most significant markets. With Das’s extensive experience in fintech strategy development and his oversight of regulatory relationships, Kraken is well-positioned to navigate the evolving crypto landscape in the UK.
Furthermore, Kraken’s intention to offer stock and ETF trading and increase its marketing efforts demonstrates its commitment to growth and innovation. As the UK progresses towards becoming a global crypto hub, Kraken’s presence and adherence to regulatory guidelines will play a crucial role in shaping the future of the country’s crypto market.
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