Kraken Brings Bitcoin Whitepaper Snippets to Racing Cars – Cryptopolitan
Kraken, a popular cryptocurrency exchange, is making waves in the racing world by showing opening extract of bitcoin whitepaper on the nose cone of a Formula 1 car.
The move is part of the exchange’s partnership with Williams Racing, which was announced earlier this week. Kraken is the team’s first ever official crypto and web3 partner, and it hopes to raise the profile of the crypto ecosystem by presenting the iconic document of a sport that draws 1.6 billion viewers over a race schedule that takes it through 20 countries a year.
Kraken CMO Mayur Gupta said that having the bitcoin whitepaper on the Williams car is a symbol of the company’s belief and commitment to crypto’s mission.
It’s an opportunity to showcase the original document that brought the entire movement to life through a sport that is watched and loved by hundreds of millions of fans worldwide.
The move is sure to excite racing and crypto enthusiasts alike, as it combines two seemingly disparate worlds in a unique and innovative way.
Kraken’s crypto compliance efforts in Canada
In other news, Kraken has filed a pre-registration undertaking with the Ontario Securities Commission in Canada to seek limited dealer status.
The move is part of the exchange’s efforts to comply with the new guidance for crypto-asset trading platforms implemented by the Canadian Securities Administrators (CSA) on February 22.
The CSA’s new guidance requires crypto trading platforms to observe new investor protections, including new custody standards, restrictions on the use of leverage and a ban on trading stablecoins without prior written consent from the CSA.
Kraken has operated in Canada as a money services business for over a decade, and the exchange’s managing director for Canada, Mark Greenberg, said the company remains committed to the country.
Limited dealer registration is a special type of trade registration used for firms that do not quite fit into any other category, and regulators tailor requirements to firms with this status individually.
The move comes just weeks after cryptocurrency exchange OKX announced it would stop offering services to Canadian customers within three months due to “new regulations.”
The CSA is the umbrella organization for Canada’s 13 regional securities regulators, and registering as one CSA member provides a “passport” for firms doing business in other provinces or territories.
Kraken’s impressive marketing strategy
Kraken’s recent compliance efforts demonstrate the exchange’s commitment to following the rules and regulations of the countries it operates in, which is critical to building trust and credibility in the crypto industry.
Kraken’s partnership with Williams Racing and the display of the bitcoin whitepaper on a Formula 1 car are examples of the exchange’s unique marketing strategy.
By combining two seemingly different worlds, Kraken is able to attract attention and raise awareness of the crypto ecosystem in a creative and innovative way.
The move is sure to catch the attention of racing and crypto enthusiasts alike, and demonstrates Kraken’s commitment to promoting the use of cryptocurrencies worldwide.
As the crypto industry continues to evolve and grow, it will be interesting to see what other creative marketing strategies Kraken and other exchanges come up with to capture the attention of the mainstream audience.
