Insider: Kraken is seeking a full European banking license in Lithuania

CoinFeed reported on July 8th, according to CoinDesk, sources revealed that cryptocurrency exchange Kraken is seeking a full banking license in Europe, with Lithuania chosen as the jurisdiction for obtaining the license. If approved, Kraken would become the only crypto exchange holding such a license, following the same regulatory path as fintech giant Revolut (which obtained a specialized banking license from the Bank of Lithuania in 2018), enabling it to offer services such as current accounts, consumer loans, and stock trading within the European Economic Area. This move is part of a global licensing strategy by Kraken's parent company, Payward.