Kraken has appointed Alex Mehrdad as the new General Manager for Canada. In its statement today (Wednesday), the company said that this transition follows a remarkable year of growth under Mark Greenberg’s leadership, who is now set to head Kraken’s newly established Asset Growth and Management division.

Mehrdad’s New Role

With a background in management consultancy and fintech startups, Mehrdad has reportedly been instrumental in doubling the company’s Canadian monthly transacting users this year. His new mandate will focus on further expanding Kraken’s footprint in Canada and enhancing the crypto experience for local clients.

Commenting about the appointment, Mehrdad said, "I am excited to lead this vital next phase of our Canadian expansion story. We’ve established a compelling offering for our local clients and are now one of the largest crypto employers with over 250 Krakenites across Canada."

“I am committed to ensuring Kraken remains a household name in the local crypto ecosystem and to reducing the barriers that still hold some Canadians back from achieving financial freedom through crypto assets.”

Greenberg has been promoted to head the Asset Growth and Management division. Over the past year, he has reportedly doubled the size of Kraken’s Canadian business and navigated complex regulatory processes to enhance customer protection and access to crypto products.

Asset Growth and Management

Greenberg remarked: “I am proud of our efforts to rapidly scale in Canada during such a short period and how that has translated into more Canadians using crypto. My focus remains on growth, specifically how all our clients can develop crypto portfolios to take advantage of innovative opportunities in this asset class. Alex has been a linchpin of our team for several years and has earned the opportunity to take Kraken to the next level in Canada.”

Last month, Kraken broadened its custody services to institutional clients in the UK and Australia. This step marked the first expansion of the service following its launch in the US as a solution for crypto management.

Previously launched in March, Kraken Custody targets institutional clients with a platform for managing digital assets. It features security protocols and access controls, is included in the Kraken product suite, and offers institutions crypto investment strategies.

Elsewhere, Kraken acquired TradeStation Crypto in April. The platform is a crypto-based unit of the online brokerage TradeStation. TradeStation Crypto holds money transmitter licenses in 47 states, Washington, DC, and Puerto Rico.