Kraken's Parent Payward Acquires Saldo Bank to Enter EU Banking
Payward is buying Lithuania's Saldo Bank to push Kraken deeper into traditional finance across four EU markets.
Kraken's parent company Payward is making its boldest move yet into traditional finance — snapping up Lithuanian lender Saldo Bank in a deal that signals crypto's ongoing march into legacy banking territory. If you thought crypto exchanges were content staying in their lane, think again.
The deal is expected to close in 2027, giving Payward a licensed banking footprint in four EU markets where Saldo Bank already operates. That's not just a trophy acquisition — it's a regulatory fast-track. Building that kind of multi-country EU banking presence from scratch would take years. Buying it cuts the line.
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For Kraken users, this matters. A regulated EU bank sitting inside the Kraken ecosystem could mean smoother fiat on-ramps, better custody options, and the kind of institutional credibility that pulls in bigger money. Traditional banking rails are still the backbone of global finance, and Payward just grabbed a piece of them.
The broader trend here is impossible to ignore. Crypto-native firms are done waiting for banks to partner with them. They're becoming banks. Coinbase has been building banking relationships, and now Payward is going a step further with an outright acquisition. The lines between crypto exchange and financial institution are blurring fast.
Watch this space as 2027 approaches — the regulatory approvals alone will be a story worth tracking. Continue reading at Cointelegraph.
