Kraken is pursuing a full European banking license, with Lithuania as the target jurisdiction, according to a person familiar with the plans; Kraken declined to comment and the Bank of Lithuania said licensing is confidential. Approval would put the exchange on the Revolut path inside the EEA, where Lithuania-licensed banking can support current accounts, consumer lending, and stock trading. Payward has been stacking licenses all year: Kraken Financial got Fed payment-rail access in March 2026, Payward got UAE VARA authorization in May, and Arjun Sethi says the 10-year plan is to buy or build licenses region by region.

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