Monat: April 2025

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Kraken secures Restricted Dealer registration in Canada

  • Kraken secures Restricted Dealer registration in Canada.
  • Cynthia Del Pozo has been named General Manager for North America.
  • Kraken’s Canadian operations have doubled over the past two years, exceeding $2B CAD in assets.

Kraken has secured a Restricted Dealer registration in Canada, marking a significant milestone in its commitment to providing Canadian crypto investors with a secure and regulated trading environment.

This achievement follows a rigorous pre-registration undertaking process with Canadian authorities, which enhanced the company’s governance, security, and compliance protocols to meet the highest industry standards.

Kraken now under the oversight of the Ontario Securities Commission

The new registration places Kraken under the oversight of the Ontario Securities Commission, ensuring that its innovative crypto products are offered within a framework designed to protect consumers and uphold investor confidence.

This regulatory achievement comes at a time when Canada is emerging as a global leader in cryptocurrency adoption, with the country having pioneered initiatives such as the first public Bitcoin ATM in Vancouver and the launch of spot Bitcoin and Ethereum ETFs.

Recent surveys indicate that around 30% of Canadian investors and institutional players have exposure to cryptocurrencies, and a growing number of Canadians view digital assets as a critical component of the financial future.

Also, over the past two years, Kraken’s Canadian operations have witnessed substantial growth. The company has doubled its team size and monthly transacting users while surpassing CAD 2 billion in client assets under custody.

In addition, Kraken now offers free Interac e-Transfer deposits, making crypto investing more accessible and affordable for Canadian clients by reducing transaction costs and eliminating foreign exchange fees.

Cynthia Del Pozo appointed new General Manager for North America

In tandem with the registration in Canada, Kraken has appointed Cynthia Del Pozo as the new General Manager for North America.

With nearly 15 years of experience in corporate development, operations, and fintech consulting, Del Pozo is expected to drive the company’s expansion across Canada. Her appointment signals Kraken’s intent to further strengthen its regulatory, political, and commercial relationships in the region, while continuing to scale its market presence.

Notably, Kraken’s success in obtaining a Restricted Dealer registration not only reaffirms its commitment to regulatory compliance but also positions the exchange at the forefront of Canada’s crypto market evolution.

With a robust regulatory foundation, a new leader at the helm, and a suite of innovative products tailored for local investors, Kraken is well-prepared to capitalize on the expanding opportunities in the digital finance sector.

The post Kraken secures Restricted Dealer registration in Canada appeared first on CoinJournal.

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Galaxy Digital secures FCA approval to offer derivatives trading in the UK

  • Galaxy Digital says it received approval to offer derivatives trading from the UK’s Financial Conduct Authority.
  • The company will also expand its asset management and investment banking services in the country.
  • Obtaining FCA authorisation is a pivotal achievement for the Galaxy group.

Galaxy Digital Holdings Ltd., a digital asset and blockchain firm, has secured a significant regulatory milestone with approval from the UK’s Financial Conduct Authority (FCA).

The company announced in a press release on April 2, 2025, that its UK subsidiary, Galaxy Digital UK Ltd., had secured a license that allows Galaxy to offer derivatives trading from its London office.

FCA approval for Galaxy’s London-based subsidiary is the latest regulatory milestone for the New York-headquartered financial services firm.

The license adds to its compliance amid global expansion, Galaxy said in the announcement.

Key milestone for Galaxy Digital

Other than derivatives trading capabilities, the license allows Galaxy to expand its investment banking and asset management operations in the country.

The license also gives Galaxy Digital UK the green light to bring its investment banking solution to its customers in the UK via its arm, Galaxy Asset Management.

Commenting on the regulatory milestone, Galaxy Digital chief executive officer for Europe and global head of sales Leon Marshall said:

“Obtaining FCA authorisation is a pivotal achievement for the Galaxy group, as it allows us to deliver innovative trading solutions to institutional clients while maintaining the highest regulatory standards.”

Marshall added that with London now a financial hub, the FCA nod gives the company a new platform to not only expand its footprint but also deliver on its mission to bridge traditional finance and the decentralised finance ecosystem.

According to the Galaxy exec, the UK’s increasingly positive regulatory environment allows for the adoption of crypto products and supports innovation and growth.

“With a strong focus on attracting innovation capital, the UK government has fostered an environment conducive to the growth of transformative technologies like digital assets. This clarity is drawing top talent, investment, and innovation to the region, bolstered by the nation’s deep talent pool, world-class academic institutions, and entrepreneurial spirit,” he noted.

UK footprint

Galaxy Digital is listed on the Toronto Stock Exchange and has a regulatory footprint across North America, Europe, and Asia.

The FCA license is its latest landmark compliance effort, largely coinciding with recent UK moves to strengthen its status as a leading destination for crypto innovation.

In January this year, crypto trading firm and market maker GSR revealed it had secured FCA’s nod to offer crypto trading in the UK.

Like Galaxy, GSR received the approval via its UK subsidiary, GSR Markets UK Limited.

These approvals add to FCA nods for top crypto exchanges and platforms, including eToro, Coinbase, and Kraken.

The post Galaxy Digital secures FCA approval to offer derivatives trading in the UK appeared first on CoinJournal.

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Usual launches $16 million bug bounty, setting a new benchmark in crypto security

  • Largest crypto bug bounty to date, surpassing Uniswap’s $15.5 million.
  • Usual has undergone 20 security audits, all finding no major flaws.
  • Other protocols lag behind, with max bounties at $2 million so far.

Stablecoin protocol Usual has unveiled a record-setting $16 million bug bounty programme in partnership with blockchain security firm Sherlock.

The initiative, now the largest in the crypto sector, targets critical codebase flaws that could lead to the loss or freezing of funds.

Hosted on Sherlock’s platform, the bounty will only award findings that highlight confirmed and long-term security risks, with an emphasis on realistic exploit scenarios.

The launch marks a significant escalation in the industry’s approach to on-chain safety, overtaking Uniswap’s $15.5 million bounty announced in late 2024.

Crypto security hits $16m milestone

The $16 million bounty makes Usual the new frontrunner in the blockchain security race, eclipsing all previously recorded bug bounty rewards in the decentralised finance (DeFi) ecosystem.

Prior to this, the largest bounty was offered by Uniswap Labs in November 2024, totalling $15.5 million.

Usual’s bounty sets a new precedent and comes at a time when Total Value Locked (TVL) on its platform has crossed $880 million, increasing the need for robust defence mechanisms.

Unlike standard bug bounties, the Usual-Sherlock initiative focuses on vulnerabilities with the potential to cause irreversible damage.

Only bugs that result in definite fund loss or indefinite freezing, lasting a year or more without reliance on external conditions, will qualify for rewards.

This selective approach aims to prioritise threats with the highest real-world impact.

20 security audits complete, no flaws found so far

The launch of this $16 million programme follows a string of security checks on Usual’s codebase.

According to Sherlock, the protocol has already undergone 20 audits, including a recent Sherlock-hosted audit contest that featured a $209,000 prize pool.

None of the audits identified any critical issues in the code, increasing industry confidence in the protocol’s architecture.

This latest bounty campaign is hosted entirely on Sherlock’s platform, which serves as a hub for vetting blockchain applications through community-led vulnerability hunts.

Sherlock’s role ensures that the bounty process is transparent, competitive, and efficiently managed, giving ethical hackers clear guidelines on what qualifies for a payout.

Threat detection becomes priority

As DeFi platforms grow in complexity and capitalisation, the scale and stringency of bug bounties have become key differentiators.

For Usual, this initiative signals a strategic move to reassure users and institutional partners about the integrity of its operations.

The push toward larger and more targeted bug bounty programmes underscores a maturing industry grappling with escalating threats.

In a space where vulnerabilities can be exploited in seconds, pre-launch security assurances are becoming just as critical as post-launch performance metrics.

The post Usual launches $16 million bug bounty, setting a new benchmark in crypto security appeared first on CoinJournal.