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Bivu Das joins Kraken as UK Managing Director

We’re happy to announce the appointment of Bivu Das as our new UK Managing Director. Bivu brings almost twenty years of business enterprise and fintech technique improvement expertise to Kraken. His arrival coincides with the UK making necessary strides to turn 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 folks work together with monetary companies,” stated Bivu Das. “There are tens of millions 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 are able to proceed to show crypto’s disruptive potential. I’m proud to drive our UK operation ahead and in direction of this subsequent necessary 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 fashionable neobank, Starling Financial institution, to navigate a hyper-growth stage of its operational improvement. Bivu began his profession in monetary companies and expertise consultancy, working with Massive 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 alternate 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 current estimates indicating that Kraken’s share of GBP buying and selling quantity is round 50%.
  • Kraken is the Official Crypto and Web3 Associate of Williams Racing. By way of 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 checklist, which highlights the crypto platform’s distinctive employer model providing.
  • Just lately, Kraken launched its first model advertising 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 characteristic model promoting throughout fashionable London areas and its first-ever video commercial.

Bivu’s appointment coincides with the UK reaching a essential juncture in its ambition to turn into a worldwide crypto hub. With the current 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 assist the UK’s regulatory authorities as they develop a aggressive regulatory regime that permits 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 longer term might be crucial for the business 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 property, up from 73% in 2020 (based on 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 based on 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 prior to now 12 months.  
  • Evaluation by PwC discovered that blockchain expertise may increase the UK’s GDP by £57 billion by 2030.

These supplies are for common info functions solely and usually are not funding recommendation or a advice 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 will not be 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 enhance 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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