Top Exchange Enables WIF and PEPE Trading in Canada

Kraken Expands Canadian Cryptocurrency Offerings with Pepe (PEPE) and Dogwifhat (WIF)

On Thursday, Kraken Pro announced the availability of Pepe (PEPE) and Dogwifhat (WIF) for trading in Canada.

Kraken previously listed WIF in February and PEPE in May 2022. In August, the exchange expanded its collateral offerings for futures to include WIF and PEPE.

Kraken has significantly increased its market share in Canada since Binance's departure last year. The exchange boasts a large Canadian team and offers various CAD trading pairs.

In March 2022, Kraken pre-registered with the Ontario Securities Commission, a step towards securing restricted dealer licenses in the country. Coinbase, a major competitor, obtained these licenses in April.

Kraken acknowledged Canada's growing prominence in cryptocurrency, citing a survey indicating that over 30% of Canadians believe in crypto's potential for financial services. However, U.Today reports that less than 20% of Canadian crypto owners have used it for purchases, while 7% have used it primarily for ransom payments.

Meanwhile, Kraken faces legal challenges in the United States. In November 2022, the SEC filed a lawsuit against the company. Kraken's motion to dismiss the lawsuit was denied by the court, marking a legal setback.