Bivu Das joins Kraken as UK Managing Director « Kraken Weblog

We’re happy to announce the appointment of Bivu Das as our new UK Managing Director. Bivu brings almost 20 years of business enterprise and fintech technique improvement expertise to Kraken. His arrival coincides with the UK making essential strides to grow to be a globally recognised crypto hub.

Bivu will oversee our intensive community of regulatory, political and industrial relationships as we proceed to scale our nationwide footprint. We’re dedicated to the UK market and accelerating crypto adoption amongst customers, professional merchants and institutional shoppers.

“Kraken has lengthy advocated for the potential cryptoassets have to rework how on a regular basis folks work together with monetary companies,” 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 display crypto’s disruptive potential. I’m proud to drive our UK operation ahead and in the direction of this subsequent essential 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 fashionable neobank, Starling Financial institution, to navigate a hyper-growth stage of its operational improvement. Bivu began his profession in monetary companies and know-how consultancy, working with Huge 4 skilled companies 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 shoppers, together with:
  • An FCA registered cryptoasset alternate supplier and custodian pockets supplier 
  • An FCA authorised funding agency working a crypto derivatives MTF (Crypto Amenities) 
  • An FCA authorised benchmark administrator (CF Benchmarks) 
• Kraken is a market chief in GBP spot buying and selling, with recent estimates indicating that Kraken’s share of GBP buying and selling quantity is round 50%.
• Kraken is the Official Crypto and Web3 Partner of Williams Racing. By 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 Formulation 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 lately ranked 18th in Newsweek’s Top 100 UK Most Loved Workplaces list, 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 rework lives and revolutionise finance. Between October and December 2023, Kraken will function model promoting throughout fashionable London areas and its first-ever video commercial.

Bivu’s appointment coincides with the UK reaching a crucial juncture in its ambition to grow to be a world crypto hub. With the latest implementation of a monetary promotions framework for crypto and a broader legislative and regulatory framework nicely underway, the UK is now offering the regulatory readability wanted to capitalise on the alternatives of this asset class. Kraken will proceed to assist the UK’s regulatory authorities as they develop a aggressive regulatory regime that allows innovation within the sector whereas defending customers from hurt.   

“There’s a chance for corporations dedicated to the UK to proceed to interact with regulators because the UK’s framework for cryptoassets takes form,” Das continued. “Higher schooling and appreciation of the function crypto can play within the monetary system of the longer term will probably be crucial for the business to achieve its mainstream potential.”

Bivu lately joined Kraken’s UK operation and can succeed Blair Halliday, who will probably 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 property, up from 73% in 2020 (in response to FCA analysis). 
• 91% of UK customers that maintain financial savings or investments have heard of cryptocurrencies. 
• Round 18% of UK residents have expertise investing in cryptocurrencies in response to the FSCS (2023).
• The UK has the third largest crypto economy globally by way of uncooked nominal quantity, at an estimated worth of $252.1 billion transacted previously 12 months.  
• Analysis by PwC discovered that blockchain know-how may enhance the UK’s GDP by £57 billion by 2030.

These supplies are for common data functions solely and aren’t funding recommendation or a suggestion 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 simply purchase. Crypto merchandise and markets are unregulated, and also you is probably not 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 could apply.