Kraken Bolsters UK Presence with New MD

Kraken Bolsters UK Presence with New MD

Time Stamp: October 27, 2023 1:51 PM
Source Node: 2355715

Kraken has appointed Bivu Das as the Managing
Director for the UK. He brings nearly two decades of experience in commercial
enterprise and fintech strategy development to his new role. His appointment
happens when the cryptocurrency exchange is expanding its services in the
region.

Before joining Kraken, Das co-founded a crypto
startup that focused on creating an accessible payment gateway for users to
enter and exit the digital asset ecosystem. His expertise extends to
navigating growth at Starling Bank, a popular neobank.

Das said: “Kraken has long advocated for the
potential crypto assets have to transform how everyday people interact with
financial services. There are millions of people in the
UK, as well as globally, who are underserved by the existing financial system.
Kraken’s mission of accelerating crypto adoption, paired with an exceptional
product offering, means we can continue demonstrating crypto’s disruptive
potential.”

Das’ career started in financial services and
technology consultancy, where he collaborated with Big Four professional
services firms and traditional UK banking institutions like Barclays, KPMG, and
Deloitte.

According to the official statement, Kraken has a
team of over 275 members in the UK. The platform holds multiple approvals that
enable it to serve clients as a Financial Conduct Authority (FCA)-registered crypto asset exchange provider,
custodian wallet provider, authorized investment firm operating a crypto
derivatives platform, and authorized benchmark administrator (CF
Benchmarks).

Taking On UK’s Booming Crypto Market

During the announcement of Das’ appointment, Kraken
cited the growing adoption of cryptocurrencies in the UK, according to research
by the FCA. The UK is experiencing an increasing interest in
crypto, with 78% of adults having heard about crypto assets, up from 73% in
2020.

Furthermore, 91% of the UK’s consumers with savings or
investments are familiar with cryptocurrencies . Around 18% of the residents in the UK have
invested in cryptocurrencies. The country is reportedly the third-largest crypto
economy globally, with an estimated $252.1 billion transacted in the
past year.

Kraken is actively expanding its services in Europe.
At the start of this month, the crypto exchange announced its acquisition of Coin Meester B.V. (BCM), a Dutch crypto broker. This step followed the introduction
of Markets in Crypto-Assets by the European Commission.

Besides that, it obtained an e-money institution(EMI) license from the Central Bank of Ireland and registered as a virtual
asset service provider with the Bank of Spain in September. The EMI license
enables Kraken’s local subsidiary to broaden its services, particularly in
euros, through strategic banking partnerships.

Kraken has appointed Bivu Das as the Managing
Director for the UK. He brings nearly two decades of experience in commercial
enterprise and fintech strategy development to his new role. His appointment
happens when the cryptocurrency exchange is expanding its services in the
region.

Before joining Kraken, Das co-founded a crypto
startup that focused on creating an accessible payment gateway for users to
enter and exit the digital asset ecosystem. His expertise extends to
navigating growth at Starling Bank, a popular neobank.

Das said: “Kraken has long advocated for the
potential crypto assets have to transform how everyday people interact with
financial services. There are millions of people in the
UK, as well as globally, who are underserved by the existing financial system.
Kraken’s mission of accelerating crypto adoption, paired with an exceptional
product offering, means we can continue demonstrating crypto’s disruptive
potential.”

Das’ career started in financial services and
technology consultancy, where he collaborated with Big Four professional
services firms and traditional UK banking institutions like Barclays, KPMG, and
Deloitte.

According to the official statement, Kraken has a
team of over 275 members in the UK. The platform holds multiple approvals that
enable it to serve clients as a Financial Conduct Authority (FCA)-registered crypto asset exchange provider,
custodian wallet provider, authorized investment firm operating a crypto
derivatives platform, and authorized benchmark administrator (CF
Benchmarks).

Taking On UK’s Booming Crypto Market

During the announcement of Das’ appointment, Kraken
cited the growing adoption of cryptocurrencies in the UK, according to research
by the FCA. The UK is experiencing an increasing interest in
crypto, with 78% of adults having heard about crypto assets, up from 73% in
2020.

Furthermore, 91% of the UK’s consumers with savings or
investments are familiar with cryptocurrencies . Around 18% of the residents in the UK have
invested in cryptocurrencies. The country is reportedly the third-largest crypto
economy globally, with an estimated $252.1 billion transacted in the
past year.

Kraken is actively expanding its services in Europe.
At the start of this month, the crypto exchange announced its acquisition of Coin Meester B.V. (BCM), a Dutch crypto broker. This step followed the introduction
of Markets in Crypto-Assets by the European Commission.

Besides that, it obtained an e-money institution(EMI) license from the Central Bank of Ireland and registered as a virtual
asset service provider with the Bank of Spain in September. The EMI license
enables Kraken’s local subsidiary to broaden its services, particularly in
euros, through strategic banking partnerships.

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