Kraken steps up strategic UK expansion with new leadership
Kraken has appointed Bivu Das as the new managing director for its UK operations. This decision is a key part of the crypto exchange's strategic expansion plans in the UK, one of its most important markets.
Bivu Das has two decades of experience in business enterprise and fintech strategy development. He was previously Head of Operations Strategy at Starling Bank.
Of course, his appointment comes at a particularly important time. The UK is currently making significant strides to become a prominent international crypto hub.
Kraken requires permission to hold additional client assets
The UK's new crypto finance promotion and regulatory framework will provide transparency for companies like Kraken to take advantage of crypto asset opportunities.
Read more: Kraken Review 2023: Security, Fees and Features Review
Das oversees Kraken's regulatory, political, and business relationships as the company expands its national presence. His past experience includes founding a crypto startup that provides an easy-to-use payment gateway for the digital asset ecosystem.
“Kraken has long been a potential crypto asset that should change how people interact with financial services,” Das said.
In fact, Kraken is the UK's leading provider of cryptocurrency trading in pounds. It is also making significant progress in expanding beyond direct Bitcoin (BTC) and other cryptocurrency trading.
In the year After acquiring London Crypto Firm in 2019, the exchange will seek additional licenses to hold more client assets in the UK.
Exchange plans to offer stock and ETF trading
Booth's appointment follows the departure of Blair Halliday to explore other opportunities. Halliday joins Kraken after previously overseeing Gemini's UK operations. It was Halliday who saw Britain's exit from the EU as a turning point for the country's crypto ambitions.
Kraken has over 275 team members in the UK. It plans to ramp up its marketing efforts in the UK later this year to expand its global presence. This move includes physical advertising in London, which is a key strategic location. The company plans to offer US and UK-listed equities and exchange-traded funds through its Kraken Securities division.
Read more: Top Crypto Exchanges and Trading Platforms in Europe
The UK's Financial Conduct Authority (FCA) has introduced new rules around crypto promotions aimed at protecting consumers, highlighting the growing regulatory landscape. This includes clear investor warnings and a “cooling off” period for investors to reconsider their decisions.
Kraken's commitment to complying with these regulatory guidelines, coupled with strategic expansion plans under Das's leadership, marks the company's new chapter in the emerging UK crypto market.
Disclaimer
This article was originally compiled using advanced AI designed to extract, analyze and organize data from multiple sources. It operates without personal beliefs, emotions or biases, providing data-driven content. A human editor carefully reviews, edits, and approves the article for publication to ensure relevance, accuracy, and compliance with BeInCrypto's editorial standards.
