Payward, the company behind crypto exchange Kraken, has agreed to acquire Lithuania-based Saldo Bank, giving it a way into European banking that goes beyond just securing another exchange license. TL;DR: The proposed acquisition would give Payward an existing licensed banking operation in Europe. The deal still needs regulatory approval and is expected to close in 2027. Saldo offers banking products including loans and deposits. Bringing it into Payward could potentially combine cash accounts, crypto assets and lending into a more connected product offering, instead of forcing customers to move between a separate crypto venue and their bank every time they need to borrow, spend or settle funds. This is an important difference from a crypto firm simply partnering with an external payments provider. Owning a bank brings a regulated operating business, supervisory obligations and a different level of responsibility for customer money. Payward will not gain unrestricted banking powers across Europe just by signing the purchase agreement; the necessary approval and post-acquisition controls are still ahead. The European push also fits a wider industry pattern. Crypto companies are pursuing banking relationships and charters as tokenized securities, stablecoins and conventional financial accounts become more closely linked. Existing lenders, meanwhile, are building crypto products of their own. For Kraken users, the immediate message is about direction rather than a product they can use today. A completed acquisition could eventually make financing and fiat services feel less fragmented. Until regulators approve the transaction and the integration is completed, the promised benefits remain plans rather than available services. Written by the News Desk and edited by Samuel Rae.
Frequently Asked Questions
FAQs Payward Entering European Banking via Saldo
1 What just happened
Krakens parent company Payward made a deal with Saldo a European financial firm to offer banking services in Europe
2 Who is Payward
Payward is the company that owns and operates the Kraken crypto exchange
3 Who is Saldo
Saldo is a European financial services provider The deal lets Payward use its infrastructure to offer banking products
4 What does this mean for Kraken users in Europe
It could mean access to banklike servicessuch as accounts or paymentsalongside crypto trading depending on what gets rolled out
5 Is Kraken becoming a bank
Not exactly Payward is partnering with Saldo rather than becoming a licensed bank itself Saldo provides the banking side
6 Why is a crypto company getting into banking
To offer customers traditional financial services in one place and to diversify beyond crypto trading
7 What services might be offered
Likely candidates include cash accounts payments and transfers Exact offerings will depend on the rollout
8 Do I have to use the banking services
No Existing Kraken services should keep working as before the banking products are an addition
9 Which countries will this cover
Payward hasnt confirmed a full list Expect a phased rollout starting with select European markets
10 When will it launch
No firm public timeline yet Watch for official announcements from Kraken and Payward
11 Will my crypto be affected
No This is about adding banking services not changing how crypto trading works
12 Is my money safe with a partner bank
Deposits with licensed European banks are typically covered by deposit insurance up to set limits Check the specific terms once products launch
13 Whats the difference between a crypto exchange and a bank
Exchanges let you buy sell and hold crypto Banks hold cash offer payments and are regulated differentlyusually with deposit guarantees
14 What does European banking mean here
It means offering bankstyle services to customers in Europe under European rules
15 Do I need a new account
Probably not to keep using Kraken