Kraken, a leading cryptocurrency exchange platform, is benefiting from the departure of Binance from Canada. Binance was forced to exit the Canadian market as the exchange said it didn’t agree with the new regulations put in place by the country. In other news, an emerging project leading the future of exchanges, Tradecurve, has received massive interest in stage three of its presale after a 25% price increase.
Kraken reaps the benefit of the Binance exit
On May 12, Binance, the world’s largest cryptocurrency exchange, announced its withdrawal from Canada over regulations that made it untenable for the company to continue operating. Weeks later, the Ontario Securities Commission announced it was investigating the conduct of Binance in the country.
The exit of Binance from Canada has favored Kraken, with customer deposits on the exchange increasing by more than 25% in the last three weeks. Kraken has also reported a five-times increase in the number of its app downloads in Canada. The country tightened its regulatory framework earlier this year, leading to the migration of exchanges out of the country.
In addition to Binance, OKX, Paxos, Blockchain.com, Deribit, and Bybit have all announced their departures from Canada following the regulatory changes. According to Kraken, the exchange is comfortable committing to enhanced Pre-Registration Undertaking (PRU) of Canada.
Binance’s challenger, Tradecurve presale stage 3 skyrockets
The inability of centralized cryptocurrency exchanges like Binance to continue operating in Canada due to regulatory restrictions will be addressed by Tradecurve, an exchange that allows users to open accounts without KYC requirements. Users will also have full control of their digital assets and open permissionless accounts where they can deposit cryptocurrencies anywhere in the world without restrictions.
The hybrid exchange model of Tradecurve combines the best of both centralized and decentralized exchanges, including increased security, privacy, liquidity, and transparency via a proof of reserve. Tradecurve also introduces an all-inclusive trading platform where traders can trade a wide range of global financial instruments, including options, stocks, ETFs, forex, commodities, and more, from a single account.
Other features that make Tradecurve a major competitor for the top crypto exchange position are the presence of negative balance protection, algorithmic trading, high leverage (500:1), copy trading, social trading, and a trading academy. These are some of the reasons why traders have been trooping into the Tradecurve presale. The presale of Tradecurve has received massive attention from investors after a 25% increase in the price of its native TCRV token.
You can now buy a TCRV token for $0.015 in the third presale stage before it experiences another price jump. Crypto analysts have predicted that the price of TCRV will jump by 50x while in presale and up to 100x at launch when TCRV lists on both centralized and decentralized exchanges. This makes a great opportunity to buy into a great project.
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