Kraken is pursuing a full banking license in Europe, targeting Lithuania — a move that would make it the only crypto exchange with bank status, mirroring the path Revolut took to offer accounts, lending and stock trading across the EEA.

CEO Arjun Sethi says Kraken plans to secure banking licenses region by region over the next decade — via acquisitions or from scratch — as part of parent Payward's global licensing push.

Separately, Kraken won a $22M arbitration against former auditor Mazars, which dropped the exchange in 2023 during the “Operation Choke Point 2.0” crypto crackdown.