Payward, the company behind crypto exchange Kraken, has agreed to acquire Lithuania-based Saldo Bank, taking a route into European banking that goes beyond obtaining another exchange registration.<\/p>\n
TL;DR:<\/strong> The proposed acquisition would give Payward an existing licensed banking operation in Europe. The deal remains subject to regulatory approval and is expected to close in 2027.<\/p>\n Saldo provides banking products including loans and deposits. Bringing it into Payward would potentially put cash accounts, crypto assets<\/a> and lending under a more connected product offering, rather than forcing customers to move between a separate crypto venue and their bank every time they need to borrow, spend or settle funds.<\/p>\n This is an important difference from a cryptocurrency firm simply partnering with an external payments provider. Ownership of a bank brings a regulated operating business, supervisory obligations and a different level of responsibility for customer money. Payward will not acquire unrestricted banking powers across Europe merely by signing the purchase agreement; the necessary approval and post-acquisition controls are still ahead.<\/p>\n The European push also fits a wider industry pattern. Crypto companies are pursuing banking relationships and charters as tokenized securities, stablecoins<\/a> and conventional financial accounts become more closely linked. Existing lenders, meanwhile, are building crypto products of their own.<\/p>\n