Staff Report
Payward, the parent company of cryptocurrency exchange Kraken, announced it has agreed to acquire Saldo Bank, a Lithuania-based online bank holding a European Union banking license, a deal that would make Payward the first crypto-native company to own a bank in Europe.
The acquisition is expected to close in 2027 pending regulatory approval, and Payward declined to disclose the purchase price, saying it does not disclose financial terms for its deals.
Owning a licensed EU bank would let the Wyoming-based company offer a far broader suite of financial services across the region, including interest-bearing deposits, consumer and small business loans, credit cards, and euro transfers through SEPA, the payment system that simplifies cross-border transactions within Europe.
The license would pave the way for Payward to offer these banking services in Lithuania, Finland, Sweden and Germany, with permission to operate in the Netherlands as well, significantly expanding its footprint beyond crypto trading into mainstream retail and small business banking.
The move marks a notable step in the broader convergence between crypto-native firms and traditional banking infrastructure, as exchanges increasingly look to combine digital asset services with regulated deposit-taking and lending capabilities rather than operating purely as trading platforms alongside the traditional banking system.
