Kraken Seeks Full EU Banking License Through Lithuania

Kraken, one of the world's largest cryptocurrency exchanges, is reportedly seeking a full banking license from the Bank of Lithuania. This would make Kraken the first major crypto exchange to hold full banking status in Europe.

The license would allow Kraken to offer regulated banking services across the European Economic Area (EEA), extending beyond its existing cryptocurrency trading and custody business.

Kraken's reported Lithuanian banking application fits into a broader pattern of regulatory expansion, which includes gaining direct access to the U.S. Federal Reserve's payment infrastructure in March 2026 and securing authorization from the UAE's Virtual Assets Regulatory Authority (VARA) in May 2026.