Alex Mehrdad acquires Canadian operations and Mark Greenberg is promoted to lead a new global asset growth and management division

We are excited to announce that Alex Mehrdad has been appointed as the new General Manager of our Canada business to lead the next phase of operational growth across Canada. This news follows a significant year of growth for our Canada business under Mark Greenberg, and as a result, Mark has been promoted to lead an entirely new segment of Kraken’s global business.

Last year, Greenberg successfully doubled the size of the Canadian business while going through the Pre-Registration Arrangement (PRU) process. He worked constructively with regulators to ensure Canadians had access to innovative cryptocurrency products and services while advocating for appropriate customer protections. He was subsequently promoted internally to build a newly created Asset Growth and Management team that helps maximize wealth accrual opportunities for a global client base through a wide range of cryptocurrency products and services.

Mehrdad has been a key pillar of our Canadian team throughout our sustained growth period. He has leveraged his background in management consulting and his expertise in building and scaling fintech startups to drive strategic vision for our local business, doubling our monthly transactional users in Canada since the beginning of this year.

“I’m excited to lead this important next phase of our Canadian expansion story. We’ve built a compelling proposition for our local customers and are now one of the largest cryptocurrency employers in Canada with over 250 Kraken employees across the country,” said Mehrdad. “I’m committed to ensuring Kraken remains a household name in the local crypto ecosystem and to reducing the barriers that still prevent some Canadians from achieving financial freedom through crypto.”

Greenberg added, “I’m proud of our efforts to rapidly expand in Canada in a short period of time and how that has translated into more Canadians using crypto. I remain focused on growth, but especially on how all of our clients can develop their crypto portfolios to capitalize on the transformative opportunities in this asset class. Alex has been a key part of our team for many years and is excited to take Kraken to the next level in Canada.”

Mehrdad takes the helm as we prepare for another period of rapid growth for Canadian crypto. Since signing the PRU last year, our local team has focused on improving our product offerings for our clients and continuing to build robust compliance measures. We are now in a stronger position to drive institutional demand for the highest quality crypto products in Canada.