Kraken appoints Bivu Das, an ex-Starling Bank executive, as a UK corporate representative to drive business expansion in the strengthening UK regulatory environment.
On October 27, the prominent cryptocurrency exchange Kraken announced that Bivu Das, a fintech entrepreneur and former Starling Bank executive, will take over the role of Managing Director for the UK market.
Das will succeed Blair Halliday, who has been in the position for approximately a year. Das has experience running crypto payments gateway startup Unblock as well as a small business finance platform named FIBR UK.
He previously served as the head of operations strategy and scaling at Starling Bank. In his new role, Das will be responsible for overseeing Kraken’s operations in the UK, which includes a significant staff presence and client base.
Das will also be responsible for overseeing Kraken’s regulatory, political, and commercial relationships as the company continues to expand its presence in the UK.
New UK Managing Director Bivu Das Highlights Crypto’s Potential for Financial Inclusion and Disruption
In the press release, Bivu Das highlights the significance of crypto adoption in serving millions of people in the UK and around the world who are underserved by the traditional financial system.
He also expresses his pride in leading Kraken’s operations in the UK and contributing to the next important phase of the company’s journey, emphasizing the disruptive potential of crypto.
Bivu Das said that:
“Kraken has long advocated for the potential cryptoassets have to transform how everyday people interact with financial services.”
Bivu Das’s appointment as the Managing Director of Kraken UK follows the departure of Blair Halliday, who left to pursue other opportunities.
Halliday played a significant role in Kraken after joining last October, and he viewed the UK’s exit from the European Union as a pivotal moment for the country’s crypto aspirations.
Bivu Das’s career began in financial services and technology consultancy, where he worked with major professional services firms such as Barclays, KPMG, and Deloitte, as well as traditional UK banking institutions.
His appointment as Kraken’s Managing Director for the UK coincides with the UK’s strategic efforts to become a leading global crypto hub.
Kraken Prepares to Navigate UK’s Evolving Crypto Regulations with New Appointment
Kraken is registered with the UK’s Financial Conduct Authority (FCA) as a cryptoasset exchange and custodian wallet provider and holds authorizations for its derivatives and benchmarking units.
Das’ appointment comes at a cautious time for UK crypto firms, as new marketing restrictions have disrupted offshore exchanges.
The UK has taken significant steps, including implementing a financial promotion framework for crypto and progressing toward a comprehensive legislative and regulatory framework.
The framework also includes clear investor warnings and a “cooling-off” period for potential investors to reconsider their decisions.
Kraken believes that these developments have provided the regulatory clarity necessary to harness the potential of the crypto asset class.
Das highlights the importance of continuous engagement with regulators in shaping the UK’s crypto asset framework, emphasizing 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 believes Kraken is well-prepared to navigate this environment, highlighting their cooperation with regulators and their readiness for the “next chapter.”
