Kraken’s Canadian operation exceeds $2 billion CAD in combined client assets under custody

We are pleased to share that Kraken’s Canadian operation has surpassed $2 billion CAD of client assets and cash under custody.

“Reaching the $2 billion milestone is testament to our ongoing effort to provide Canadians with a superior crypto trading experience,” said Alex Mehrdad, Kraken Canada General Manager. “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”. 

Throughout 2024, we’ve also placed an emphasis on bridging the knowledge gap that has historically held back adoption in this asset class locally. According to the Ontario Securities Commission, last year only 54% of Canadians could provide a basic definition of crypto.

While this is an improvement from 2022, when only 51% could provide a basic definition, there is room for improvement as we enter 2025, and Kraken is dedicated to playing a leading role in accelerating this learning curve.

Mehrdad continued: “While we’re pleased with this progress, we’re aware that our mission is not complete and that most people have still not made their first crypto transaction. We’re committed to reducing barriers that are holding some Canadians back from entering the asset class and to ensure that everyone can achieve their own version of financial freedom through crypto assets.”