Payward, the parent organization behind the global cryptocurrency exchange Kraken, is currently evaluating options to secure a full banking license in jurisdictions outside the United States. The move is widely interpreted by industry observers as a strategic pivot to diversify the company's regulatory footprint amidst a challenging legal environment for crypto firms in the U.S.

While specific details regarding the target jurisdictions remain undisclosed, the shift suggests a broader trend of major crypto entities seeking more stable or favorable regulatory frameworks abroad. Kraken has faced significant scrutiny from U.S. regulators, including the Securities and Exchange Commission (SEC), which has filed lawsuits against the exchange alleging the unregistered offer and sale of securities. By pursuing a banking license internationally, Payward may be attempting to integrate traditional financial services more deeply into its platform while insulating its operations from the volatility of U.S. enforcement actions.

There is currently no official confirmation from Payward regarding which countries are under consideration or the timeline for such an expansion. The company continues to operate its exchange services globally, but this potential transition to a 'full bank' status would mark a significant evolution in its business model, moving beyond simple exchange operations to providing a wider range of regulated financial products.