Good day everyone,
I hope you are all well and had an excellent week, welcome to CryptoGod-1’s blog on all things crypto. The cryptocurrency exchange Kraken have announced the appointed of Bivu Das as their new UK Managing Director.
Kraken appoints Bivu Das
The cryptocurrency exchange have announced the appointment of ex-Starling Bank executive, Bivu Das, as a UK corporate representative to drive business expansion in the strengthening UK regulatory environment. On the 27th of October the announcement was made by Kraken, with the fintech entrepreneur and former Starling Bank executive taking over the role of Managing Director for the UK market.
Das will taken the role over from Blair Halliday, who has been in the position for approximately a year. Das is experienced in running crypto payments gateway startup Unblock, along with a small business finance platform named FIBR UK. He had also previously served as the head of operations strategy and scaling at Starling Bank. As part of his new role, Das will be responsible for overseeing Kraken’s operations in the UK, which includes a significant staff presence and client base. He will also be responsible for overseeing Kraken’s regulatory, political, and commercial relationships as the company continues to work at expanding its presence across the U.K.
As part of the press release on Kraken's blog, they noted how Das will bring "nearly two decades of commercial enterprise and fintech strategy development experience to Kraken." Das himself also highlighted the significance of crypto adoption in serving millions of people in the UK and around the world. He noted:
“Kraken has long advocated for the potential cryptoassets have to transform how everyday people interact with financial services. There are millions of people in the UK, as well as globally, that are underserved by the existing financial system. Kraken’s mission of accelerating crypto adoption, paired with an exceptional product offering, mean we can continue to demonstrate crypto’s disruptive potential. I’m proud to drive our UK operation forward and towards this next important phase of Kraken’s journey.”
He went on to express his pride in leading Kraken’s operations in the UK and contributing to the next important phase of the company’s journey. Blair Halliday, who he will replace, had played a significant role in Kraken after joining last October, and he viewed the UK’s exit from the European Union as a pivotal moment for the country’s crypto aspirations.
U.K. Global Crypto Hub
The news coincides with the fact the United Kingdom is pushing to be recognised as a global crypto hub. The nation is at a critical juncture in its ambition, and the nation is well under way at implementing financial promotions framework for crypto and a broader legislative and regulatory framework. The UK is now providing the regulatory clarity needed to capitalise on the opportunities of this asset class, and Kraken will look to support the UK’s regulatory authorities as they develop a competitive regulatory regime.
Kraken is registered with the UK’s Financial Conduct Authority (FCA) as a cryptoasset exchange and custodian wallet provider and holds authorizations for its derivatives and benchmarking units. Das is seen to be a key component of the exchange working in tandem with the regulators in the nation. New marketing restrictions have disrupted offshore exchanges but cooperation is the overall aim of the game. As part of the new framework a “cooling-off” period for potential investors to reconsider their decisions is required.
Das and Kraken believe these developments have provided the regulatory clarity necessary to harness the potential of the crypto asset class. Das particularly highlighted the importance of continuous engagement with regulators in shaping the UK’s crypto asset framework. He emphasized the need for education and awareness in the wider echelons of the industry. Despite the new regulations, Das believe Kraken is well-prepared to navigate this environment, highlighting their cooperation with regulators and their readiness for the “next chapter.” Das noted:
“There’s an opportunity for firms committed to the UK to continue to engage with regulators as the UK’s framework for cryptoassets takes shape. Better education and appreciation of the role crypto can play in the financial system of the future will be imperative for the industry to reach its mainstream potential.”
Have a great day,
Peace. CryptoGod-1.
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