Bivu Das Appointed as Kraken's New UK Managing Director

Cryptocurrency exchange Kraken has named Bivu Das, a fintech entrepreneur and ex-Starling Bank executive, as its new Managing Director for the UK market. The move comes as part of Kraken’s efforts to drive business expansion in the UK’s evolving regulatory landscape.

A Strategic Shift for Kraken

Das succeeds Blair Halliday, who served as Managing Director for approximately a year. Das brings to the table his experience running crypto payments gateway startup Unblock and small business finance platform FIBR UK. He had also overseen operations strategy and scaling at Starling Bank.

In his new role, Das will be responsible for supervising Kraken’s operations in the UK, overseeing its regulatory, political, and commercial relationships as the company continues to expand its presence in the UK.

Das Highlights the Power of Crypto

In a press statement, Das emphasized the disruptive potential of crypto and highlighted its significance in serving the underserved in the traditional financial system. He also expressed his pride in leading Kraken’s operations in the UK.

He stated, “Kraken has long advocated for the potential cryptoassets have to transform how everyday people interact with financial services.”

An Experienced Hand at the Helm

Das’s career has seen him work with professional services firms like Barclays, KPMG, and Deloitte, as well as traditional UK banking institutions. His appointment coincides with strategic efforts by the UK to position itself as a leading global crypto hub.

Preparing for Regulatory Changes

Kraken, registered with the UK’s Financial Conduct Authority (FCA) as a cryptoasset exchange and custodian wallet provider, is navigating a cautious period for UK crypto firms due to new marketing restrictions.

The UK has taken significant steps towards implementing a comprehensive legislative and regulatory framework for crypto, including clear investor warnings and a “cooling-off” period for potential investors.

Kraken views these developments as providing the needed regulatory clarity to harness the potential of the crypto asset class.

Das stressed the importance of continuous engagement with regulators to shape the UK’s crypto asset framework and the need for education and awareness to unlock the mainstream potential of the crypto industry.

Despite new regulations impacting the crypto industry in the UK, Das affirmed Kraken’s readiness to navigate this environment, underlining their cooperation with regulators and readiness for the “next chapter.”