Kraken, a cryptocurrency exchange based in the US that plans to go public there, is pursuing a full banking license in Europe, with Lithuania as its preferred jurisdiction, according to a person familiar with the plans.

If approved, the license would let Kraken offer regulated financial services across the European Economic Area without separate local authorizations in each market.

The move would expand Kraken’s existing European regulatory footprint, which includes an Irish e-money license that supports euro fiat services across European Union and European Economic Area markets.

Kraken also said its Central Bank of Ireland authorization under Markets in Crypto-Assets (MiCA) and its Cyprus Markets in Financial Instruments Directive (MiFID) derivatives license can be passported across all 27 European Union member states.

The banking licence application is part of a broader regulatory expansion.

In March 2026, Kraken Financial gained access to the US Federal Reserve payment infrastructure. Two months later, parent company Payward said it had secured authorization from Dubai regulator VARA.

🔗 Source: CoinDesk