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Weekly Review 15.07.2026: Kraken Targets Lithuanian Bank

Wednesday, 15 July: No new primary segment events in the last 24 hours, so we provide a weekly review (8-14 July). Headline story - Kraken seeks to obtain a full banking licence in Lithuania. ESMA CASP register 280 entries, K33 MiCA passport, Goobit appeal.

Toms Ābeltiņš

15 July 20267 min read

In the last 24 hours (14 July), there have been no new primary, individually dated events in the Baltic and Nordic crypto exchange and CASP segment, therefore, this is a comprehensive weekly review for the period 8-14 July. Headline story: According to CoinDesk reports (around 7 July, with continued coverage on 14 July), Kraken is seeking to obtain a full banking licence in Lithuania, which would allow it to accept deposits and provide lending - official confirmation is still pending. Context: The ESMA MiCA register increased to 280 CASPs on 4 July (+37, including Standard Chartered), K33 MiCA passport (10.07), Goobit/BTCX appeal (13.07), and the Tangem/Ledger security discussion in the watchlist section.

In the last 24 hours (14 July), there have been no new, individually dated primary events in the Baltic and Nordic crypto exchange, CASP, hardware wallet, card, and tax tool segments. The previous day's main news - Goobit/BTCX's announcement of an appeal against the MiCA rejection (13 July) - was already covered in the 14 July edition. Therefore, today we offer a comprehensive weekly review for the period 8-14 July, with precise dates for each event and an updated watchlist. Older, ongoing processes (such as the total number in the ESMA register or the Tangem/Ledger security discussion) are marked as context, not as fresh news.

This Week's Headline Story: Kraken Targets Lithuanian Banking Licence

The most significant regional development this week concerns Lithuania. Following a CoinDesk publication (initially around 7 July, with continued coverage on 14 July), crypto exchange Kraken, according to a source familiar with the plans, is seeking to obtain a full banking licence in Europe, choosing Lithuania and the Bank of Lithuania as its home jurisdiction and supervisor.

If granted, the licence would allow Kraken to provide deposit-taking and lending services - a significant expansion compared to its current crypto-focused operations, which are covered by its existing MiCA authorisation (via the Central Bank of Ireland) and MiFID licence (Cyprus). Commentators cite Revolut as a precedent, which obtained a specialised banking licence in Lithuania in 2018 and converted it into a full banking licence in 2021.

Important disclaimer: As of now, there is no official confirmation from Kraken; the news is based on an unnamed source, and a specific application or approval date has not been made public. Therefore, we consider this an evolving, unconfirmed story, rather than an accomplished regulatory fact. For the Baltic segment, however, it is significant: Lithuania is strengthening its role as a gateway to EU financial infrastructure, and the move by crypto exchanges towards full banking licences indicates the industry's convergence with the traditional banking sector.

CASP Register: 280 Authorised Service Providers

On 4 July, ESMA published the first post-transition period update to the interim MiCA register, adding 37 new crypto-asset service providers and bringing the total to 280 authorised CASPs across the EU/EEA. Among the additions, Standard Chartered stands out, having received MiCA authorisation on 29 June through its Luxembourg subsidiary. Germany continues to lead in the number of authorised CASPs, followed by France and the Netherlands.

Independently maintained register mirrors (casptracker) confirmed the same total - 280 licensed service providers in 30 EU/EEA markets - on 14 July. The Baltic and Nordic presence in the register is stable: among others, Estonia (AS LHV Pank, Lightyear Europe), Lithuania (CoinGate, Robinhood, Simplex), Latvia (Backpack EU, Paybis, AlphaRoute), Finland (Coinmotion, Northcrypto, Tesseract, Kvarn X), Denmark (Penning, Northstake), Sweden (Safello), and Norway (K33 Markets, TÝR Markets, Firi). Numbers change week by week, so we consider the total as background, not as yesterday's news.

K33 Utilises MiCA Passport in the Nordics and Germany (10 July)

Around 10 July, Norwegian crypto company K33, having received MiCA authorisation from Norway's Finanstilsynet, began an active European expansion using MiCA passporting, opening its platform in Sweden, Denmark, Finland, and Germany. NorriWire covered this event in detail in its 14 July edition; in this weekly review, we include it as one of the practical examples of MiCA passporting during the period. This confirms that a CASP authorisation issued in one EEA country is becoming a key instrument for regional competition.

Goobit/BTCX Continues to Weigh Appeal (13 July)

On 13 July, Swedish-listed Goobit Group AB (exchange BTCX) publicly indicated that an appeal ("överklagande") against the Swedish Finansinspektionen's MiCA rejection is the most likely path forward in the near future, while emphasising that the exchange continues to operate during the process. The initial rejection (early July; primarily due to deficiencies in internal controls and AML compliance) and the 13 July announcement were already covered in the 14 July article, so we mention them here only as a continuation of the week's developments, not as new news.

Norwegian Market Dynamics: TÝR Markets

According to a publicly available summary from regional media outlet Kaupr (around 8 July), Norwegian broker TÝR Markets achieved a trading volume of approximately 92 million Norwegian kroner in June, representing about 18.1% of Norwegian crypto trading (excluding K33). We provide this figure as media-reported market dynamics context; the precise methodology and comparability with other players' data have not been independently verified.

Watchlist and Context (for reminder, not fresh news)

Hardware wallet security. A study by Ledger's security laboratory (Donjon) on a laser (LFI) attack on Tangem card-type wallets and Tangem's response (a Tangem publication on 9 July, in which the company states that for everyday users, the practical risk is "practically non-existent") continues the discussion on physical security assumptions. NorriWire covered the topic in a separate article on 13 July; here it is mentioned only as a watchlist reference.

MiCA review. The European Commission has signalled its intention to reopen the MiCA regulation in 2027 to address stablecoins, tokenisation, and decentralised finance issues. This is a medium-term context, not this week's event.

Outlook for Next Week

Points to watch in the coming days: firstly, whether Kraken or the Bank of Lithuania will provide official confirmation of the banking licence application - this would turn an evolving story into a regulatory fact. Secondly, whether new Baltic or Nordic service providers will appear in the ESMA CASP register above the current 280 entries. Thirdly, the next steps in the Goobit/BTCX appeal process in Sweden. Fourthly, possible further announcements in the Tangem/Ledger security discussion.

Norriwire Briefing