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We’re happy to announce the appointment of Bivu Das as our new UK Managing Director. Bivu brings practically 20 years of business enterprise and fintech technique growth expertise to Kraken. His arrival coincides with the UK making essential strides to change into a globally recognised crypto hub.
Bivu will oversee our in depth community of regulatory, political and industrial relationships as we proceed to scale our nationwide footprint. We’re dedicated to the UK market and accelerating crypto adoption amongst shoppers, professional merchants and institutional shoppers.
“Kraken has lengthy advocated for the potential cryptoassets have to rework how on a regular basis individuals work together with monetary companies,” mentioned Bivu Das. “There are thousands and thousands of individuals within the UK, in addition to globally, which can be underserved by the prevailing monetary system. Kraken’s mission of accelerating crypto adoption, paired with an distinctive product providing, imply we will proceed to display crypto’s disruptive potential. I’m proud to drive our UK operation ahead and in direction of this subsequent essential section of Kraken’s journey.”
Previous to Kraken, Bivu co-founded a crypto startup that gives an accessible cost gateway for on-ramping and off-ramping with the digital asset ecosystem. He additionally led efforts by the well-liked neobank, Starling Financial institution, to navigate a hyper-growth stage of its operational growth. Bivu began his profession in monetary companies and expertise consultancy, working with Large 4 skilled companies corporations and UK conventional banking establishments, resembling Barclays, KPMG and Deloitte.
Kraken’s UK roots run deep:
- Kraken has over 275 staff members situated within the UK, together with a considerable UK shopper base.
- Kraken holds a number of registrations and authorisations to serve UK shoppers, together with:
- An FCA registered cryptoasset change supplier and custodian pockets supplier
- An FCA authorised funding agency working a crypto derivatives MTF (Crypto Services)
- An FCA authorised benchmark administrator (CF Benchmarks)
- Kraken is a market chief in GBP spot buying and selling, with latest estimates indicating that Kraken’s share of GBP buying and selling quantity is round 50%.
- Kraken is the Official Crypto and Web3 Accomplice of Williams Racing. By this partnership now we have:
- Hosted a Fan Zone expertise within the coronary heart of London that enabled over 20,000 followers to deepen their reference to the Formulation 1 staff.
- Organised a one-of-a-kind competitors for 20 Williams Racing followers to showcase their NFTs on the again of the staff racecar.
- Kraken not too long ago ranked 18th in Newsweek’s High 100 UK Most Cherished Workplaces listing, which highlights the crypto platform’s distinctive employer model providing.
- Not too long ago, Kraken launched its first model advertising and marketing marketing campaign within the UK and U.S. Entitled See What Crypto Can Be, the marketing campaign showcases crypto’s potential to rework lives and revolutionise finance. Between October and December 2023, Kraken will function model promoting throughout well-liked London areas and its first-ever video commercial.
Bivu’s appointment coincides with the UK reaching a essential juncture in its ambition to change into a worldwide crypto hub. With the latest implementation of a monetary promotions framework for crypto and a broader legislative and regulatory framework properly underway, the UK is now offering the regulatory readability wanted to capitalise on the alternatives of this asset class. Kraken will proceed to help the UK’s regulatory authorities as they develop a aggressive regulatory regime that allows innovation within the sector whereas defending shoppers from hurt.
“There’s a possibility for corporations dedicated to the UK to proceed to have interaction with regulators because the UK’s framework for cryptoassets takes form,” Das continued. “Higher schooling and appreciation of the position crypto can play within the monetary system of the long run might be crucial for the trade to succeed in its mainstream potential.”
Bivu not too long ago joined Kraken’s UK operation and can succeed Blair Halliday, who might be departing the enterprise shortly, as Kraken’s UK Managing Director.
Monitoring crypto adoption within the UK:
- 78% of UK adults have heard about crypto belongings, up from 73% in 2020 (in line with FCA analysis).
- 91% of UK shoppers that maintain financial savings or investments have heard of cryptocurrencies.
- Round 18% of UK residents have expertise investing in cryptocurrencies in line with the FSCS (2023).
- The UK has the third largest crypto economic system globally when it comes to uncooked nominal quantity, at an estimated worth of $252.1 billion transacted previously yr.
- Evaluation by PwC discovered that blockchain expertise may increase the UK’s GDP by £57 billion by 2030.
These supplies are for basic info functions solely and usually are not funding recommendation or a suggestion or solicitation to purchase, promote, stake or maintain any cryptoasset or to have interaction in any particular buying and selling technique. Kraken won’t undertake efforts to extend the worth of any cryptoasset that you just purchase. Crypto merchandise and markets are unregulated, and also you is probably not protected by authorities compensation and/or regulatory safety schemes. The unpredictable nature of the cryptoasset markets can result in lack of funds. Tax could also be payable on any return and/or on any improve within the worth of your cryptoassets and you need to search unbiased recommendation in your taxation place. Geographic restrictions might apply.
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