Bivu Das joins Kraken as UK Managing Director

We are delighted to announce the appointment of Bivu Das as our new UK Managing Director. Bivu brings nearly 20 years of experience developing commercial enterprise and fintech strategies to Kraken. His arrival coincides with the UK taking significant steps towards becoming a globally recognized cryptocurrency hub.

Bivu will oversee an extensive network of regulatory, political and commercial relationships as it continues to expand its national footprint. We are committed to the UK market and accelerating cryptocurrency adoption among consumers, professional traders and institutional clients.

“Kraken has long argued that cryptocurrencies have the potential to transform the way everyday people interact with financial services,” said Bivu Das. “Millions of people in the UK and around the world are underserved by the existing financial system. Kraken’s mission to accelerate cryptocurrency adoption, combined with its exceptional product offering, means it can continue to demonstrate the disruptive potential of cryptocurrencies. We are proud to be driving our UK business towards the next important stage of Kraken’s journey.”

Prior to Kraken, Bivu co-founded a cryptocurrency startup providing an accessible payment gateway for entry and exit into the digital asset ecosystem. He also led efforts to navigate the hyper-growth phase of operational development at Starling Bank, a popular neobank. Bivu began his career in financial services and technology consulting, working with the Big Four professional services firms and traditional UK banking institutions such as Barclays, KPMG and Deloitte.

Kraken’s British roots run deep.

• Kraken has over 275 team members in the UK and a significant UK customer base.
• Kraken holds a number of registrations and certifications to serve UK customers, including:
  • FCA registered cryptocurrency exchange provider and custodial wallet provider
  • It is an FCA-approved investment company that operates cryptocurrency derivatives MTF (Crypto Facility).
  • FCA Authorized Benchmark Administrator (CF Benchmarks)
• Kraken is the market leader in GBP spot trading. latest estimate This indicates that Kraken accounts for approximately 50% of GBP trading volume.
• Kraken is the official cryptocurrency and Web3 partner of Williams Racing. Through this partnership, we have achieved the following benefits:
  • Central London hosted a Fan Zone experience for over 20,000 fans to create a deeper connection with the Formula 1 team.
  • A unique competition was organized for 20 Williams Racing fans to display NFTs on the back of the team’s race car.

• Kraken was recently ranked 18th on Newsweek’s list of Britain’s top 100 best-loved workplaces. This highlights the cryptocurrency platform’s unique employer brand offering.
• Recently, Kraken launched its first brand marketing campaign titled See What Crypto Can Be in the UK and US. This campaign demonstrates the potential of cryptocurrency to transform lives and revolutionize finance. From October to December 2023, Kraken will roll out brand advertising and its first video ads in popular locations in London.

Bivu’s appointment coincides with the UK reaching a critical juncture in its ambitions to become a global cryptocurrency hub. With the recent implementation of a financial promotional framework for cryptocurrencies and the broader legislative and regulatory framework well underway, the UK is now providing the regulatory clarity needed to capitalize on the opportunities of this asset class. Kraken will continue to support UK regulators as they develop a competitive regulatory regime that protects consumers from harm while enabling innovation in the sector.

“As the UK’s cryptocurrency framework takes shape, there are opportunities for UK-committed businesses to continue to engage with regulators,” Das said. “Better education and understanding of the role cryptocurrencies could play in the financial system of the future is essential for the industry to achieve its mainstream potential.”

Bivu recently joined Kraken’s UK operations and will become Kraken’s UK Managing Director, succeeding Blair Halliday, who will soon leave the business.

Tracking cryptocurrency adoption in the UK:

• 78% of UK adults have heard of cryptocurrency assets, up from 73% in 2020 (according to FCA research).
• 91% of UK consumers who are saving or investing have heard of cryptocurrencies.
• According to the FSCS (2023), approximately 18% of UK residents have experience investing in cryptocurrency.
• The UK has the third-largest cryptocurrency economy in the world by nominal trading volume, with an estimated $252.1 billion traded last year.
• An analysis by PwC found that blockchain technology could increase the UK’s GDP by £57 billion by 2030.

These materials are provided for general information purposes only and are not investment advice or a recommendation or solicitation to buy, sell, stake or hold any cryptocurrency or to engage in any particular trading strategy. Kraken makes no effort to increase the value of the cryptocurrency you purchase. Cryptocurrency products and markets are unregulated, and you may not be protected by government compensation and/or regulatory protection schemes. The unpredictable nature of the cryptocurrency market may result in loss of funds. Taxes may be levied on the appreciation and/or reporting of your cryptocurrency assets and you should seek independent advice regarding your tax position. Geographic restrictions may apply.