We’re happy to announce the appointment of Bivu Das as our new UK Managing Director. Bivu brings almost 20 years of economic enterprise and fintech technique improvement expertise to Kraken. His arrival coincides with the UK making essential strides to turn out to be a globally recognised crypto hub.
Bivu will oversee our intensive 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 customers, professional merchants and institutional purchasers.
“Kraken has lengthy advocated for the potential cryptoassets have to remodel how on a regular basis individuals work together with monetary companies,” mentioned Bivu Das. “There are hundreds of thousands of individuals within the UK, in addition to globally, which might 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 reveal 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 fee gateway for on-ramping and off-ramping with the digital asset ecosystem. He additionally led efforts by the common neobank, Starling Financial institution, to navigate a hyper-growth stage of its operational improvement. Bivu began his profession in monetary companies and know-how consultancy, working with Huge 4 skilled companies companies and UK conventional banking establishments, resembling Barclays, KPMG and Deloitte.
Kraken’s UK roots run deep:
- Kraken has over 275 workforce members positioned within the UK, together with a considerable UK consumer base.
- Kraken holds a number of registrations and authorisations to serve UK purchasers, 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 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 Components 1 workforce.
- Organised a one-of-a-kind competitors for 20 Williams Racing followers to showcase their NFTs on the again of the workforce racecar.
- Kraken just lately ranked 18th in Newsweek’s Prime 100 UK Most Beloved Workplaces record, which highlights the crypto platform’s distinctive employer model providing.
- Lately, 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 remodel lives and revolutionise finance. Between October and December 2023, Kraken will function model promoting throughout common London areas and its first-ever video commercial.
Bivu’s appointment coincides with the UK reaching a essential juncture in its ambition to turn out to be 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 assist the UK’s regulatory authorities as they develop a aggressive regulatory regime that permits innovation within the sector whereas defending customers from hurt.
“There’s a chance for companies dedicated to the UK to proceed to interact 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 will probably be crucial for the business to achieve its mainstream potential.”
Bivu just lately joined Kraken’s UK operation and can succeed Blair Halliday, who will probably 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 (in response to FCA analysis).
- 91% of UK customers that maintain financial savings or investments have heard of cryptocurrencies.
- Round 18% of UK residents have expertise investing in cryptocurrencies in response to the FSCS (2023).
- The UK has the third largest crypto financial system globally by way of uncooked nominal quantity, at an estimated worth of $252.1 billion transacted prior to now 12 months.
- Evaluation by PwC discovered that blockchain know-how might increase the UK’s GDP by £57 billion by 2030.
These supplies are for normal data functions solely and usually are not funding recommendation or a advice or solicitation to purchase, promote, stake or maintain any cryptoasset or to interact in any particular buying and selling technique. Kraken won’t undertake efforts to extend the worth of any cryptoasset that you simply 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 enhance within the worth of your cryptoassets and it is best to search unbiased recommendation in your taxation place. Geographic restrictions could apply.