We’re happy to announce the appointment of Bivu Das as our new UK Managing Director. Bivu brings almost twenty years of economic enterprise and fintech technique growth expertise to Kraken. His arrival coincides with the UK making necessary strides to change into a globally recognised crypto hub.
Bivu will oversee our intensive community of regulatory, political and business 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 purchasers.
“Kraken has lengthy advocated for the potential cryptoassets have to remodel how on a regular basis individuals work together with monetary providers,” 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 exhibit 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 fee gateway for on-ramping and off-ramping with the digital asset ecosystem. He additionally led efforts by the standard neobank, Starling Financial institution, to navigate a hyper-growth stage of its operational growth. Bivu began his profession in monetary providers and know-how consultancy, working with Massive 4 skilled providers corporations and UK conventional banking establishments, akin to Barclays, KPMG and Deloitte.
Kraken’s UK roots run deep:
- Kraken has over 275 group members positioned within the UK, together with a considerable UK shopper base.
- Kraken holds a number of registrations and authorisations to serve UK purchasers, 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 latest estimates indicating that Kraken’s share of GBP buying and selling quantity is round 50%.
- Kraken is the Official Crypto and Web3 Companion of Williams Racing. By means of this partnership we’ve:
- Hosted a Fan Zone expertise within the coronary heart of London that enabled over 20,000 followers to deepen their reference to the System 1 group.
- Organised a one-of-a-kind competitors for 20 Williams Racing followers to showcase their NFTs on the again of the group racecar.
- Kraken not too long ago ranked 18th in Newsweek’s Prime 100 UK Most Beloved Workplaces record, which highlights the crypto platform’s distinctive employer model providing.
- Just 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 characteristic model promoting throughout standard 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 effectively 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 interact with regulators because the UK’s framework for cryptoassets takes form,” Das continued. “Higher training and appreciation of the function crypto can play within the monetary system of the long run will likely 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 will likely 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 (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 by way of uncooked nominal quantity, at an estimated worth of $252.1 billion transacted previously yr.
- Evaluation by PwC discovered that blockchain know-how may enhance the UK’s GDP by £57 billion by 2030.
These supplies are for basic data functions solely and aren’t 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 is not going to undertake efforts to extend the worth of any cryptoasset that you just purchase. Crypto merchandise and markets are unregulated, and also you might 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 improve within the worth of your cryptoassets and you must search impartial recommendation in your taxation place. Geographic restrictions might apply.
