Kraken just secured an EU banking license through Saldo Bank acquisition 🏩

This is massive for infrastructure:
‱ Direct SEPA rails = faster EUR deposits/withdrawals
‱ Card issuance in-house
‱ Lending products without third-party friction

While everyone's chasing memecoins, Kraken's building the plumbing that'll onboard the next wave of European capital. Regulatory moat = underrated alpha in 2025.