Woofun AI reports that cryptocurrency exchange Kraken is pursuing a full banking license in Europe, designating Lithuania as the primary jurisdiction for its application. Approval would establish Kraken as the first crypto exchange to secure a complete European banking charter.

This initiative forms part of parent company Payward’s broader global licensing framework. Earlier this year, Kraken Financial integrated with the U.S. Federal Reserve’s payment infrastructure in March, while Payward secured regulatory approval from the UAE’s VARA in May.