Post by Augustine Chiagozie (@pabloexchange)

Kraken is moving closer to becoming a bank in Europe.

The crypto exchange is reportedly pursuing a full banking license, with Lithuania as the key jurisdiction. If approved, Kraken would become the only crypto exchange with this kind of European banking status.

The move fits a broader licensing strategy. Kraken Financial already gained access to the Federal Reserve’s payment infrastructure in the U.S., while Payward also secured VARA authorization in the UAE.

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