Kraken hired Stephanie Lemmerman as its new Chief Financial Officer. Lemmerman, who has a background in fintech and crypto, will step into the new role at a time when the exchange aims to deepen its presence in the crypto and financial sectors.

Dapper Labs' Former CFO

Lemmerman has extensive experience in the financial landscape, including her recent tenure as CFO at Dapper Labs, a blockchain and NFT company. According to Kraken, Lemmerman is expected to bring her expertise in bridging traditional finance with crypto to Kraken.

Commenting about the appointment, Arjun Sethi, the Co-CEO at Kraken, said: “Stephanie has deep expertise across fintech Fintech Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Read this Term, gaming, and consumer crypto at scale. She’s one of the best financial and operations thinkers I've met in a long time. As we continue on our path of growth, I look forward to partnering with her to build more bridges into the world of crypto rails and between traditional finance and decentralized financial technology.”

Kraken will reportedly benefit from her insight as the company aims to broaden its crypto services and potentially advance traditional finance interactions within the digital finance ecosystem. Lemmerman’s appointment followed the recent announcement by outgoing CFO Carrie Dolan, who will continue to assist with the transition.

“I recognize that Kraken is at a key inflection point in its history,” said Lemmerman. “There’s just such an amazing opportunity ahead, given where the crypto industry is right now. I truly believe in Kraken’s mission of financial freedom and inclusion, and I couldn’t be more excited to join the team and help write our next chapter.”

Kraken's Recent Developments

Founded in 2011, Kraken has set itself apart as one of the longest-standing crypto platforms globally, offering a wide range of trading options and financial services.

In August, Kraken named Alex Mehrdad as the General Manager for Canada. With a background in management consultancy and fintech startups, Mehrdad has reportedly been instrumental in doubling the company’s Canadian monthly transacting users. He focuses on expanding Kraken’s footprint in Canada and enhancing the crypto experience for users in the region.