Kraken Parent Payward Moves Into European Banking With Saldo Deal
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. TL;DR: 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. Saldo provides banking products including loans and deposits. Bringing it into Payward would potentially put cash accounts, crypto assets 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. 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. 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.
Key Takeaways
- 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.
- TL;DR: 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.
Summary generated by IndiCrypto from NewsBTC. IndiCrypto is a news aggregator and does not provide investment advice. Read the original article for full context.
More in Regulation
JPMorgan Brings JPM Coin to Ethereum as Wall Street Embrace Expands
JPMorgan Chase is expanding its JPM Coin deposit token to Ethereum, bringing blockchain-based dollar payments to the world’s second-largest cryptocurrency network as traditional financial institutions increasingly embrace public blockchain infrastructure.…
South Korea Faces Fresh Push To Delay Crypto Gains Tax Until 2029
South Korea is approaching another decision point on its long-delayed cryptocurrency gains tax, with exchanges and policymakers preparing to discuss whether the January 2027 start date is realistic. TL;DR: The country’s planned crypto tax has already been…
XRP Ledger Repairs Its Lending Protocol Before It Goes Live
XRP developers published a second amendment to repair the ledger’s new uncollateralized lending feature while the original still awaits validator approval.