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Kraken Benefits from Staying in Canada as Crypto Rivals Withdraw

Kraken, a cryptocurrency exchange, has seen a 25% increase in customer deposits in Canada following the departure of rivals Binance and OKX. The company also experienced a fivefold increase in downloads of its mobile apps for Canadian clients after OKX announced its plans to leave in March. Kraken has been in Canada for over 10 years and has more than 250 staff there. The company's managing director for Canada, Mark Greenberg, said that the Canadian regulatory approach works for them, despite some limits on trading and margin.

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