Overview
- This week Payward Europe was confirmed to hold an Electronic Money Institution license in Lithuania, giving Kraken a regulated route for euro payments and e‑money services.
- Multiple outlets report Kraken is pursuing a full Lithuanian banking license, a move that has not been confirmed by the company or regulators and remains unverified.
- A full banking charter would allow Kraken to hold customer deposits, offer consumer credit and connect directly to euro payment rails, reducing reliance on third‑party banks and processors.
- The push builds on Kraken’s existing European permissions, including MiCA authorization via Ireland and a MiFID license through Cyprus, and follows recent global steps such as Fed payment access in March 2026 and VARA approval in May 2026.
- Lithuania is a common gateway for fintech banking credentials because its regulator has issued specialized bank licenses before; the Bank of Lithuania says licensing processes are confidential and no public application timeline has been disclosed.