The Kraken Saldo Bank combination is the phrase EU financial regulators will be hearing a lot more of. Payward, the parent company of the Kraken exchange, announced on October 14 an agreement to acquire Saldo Bank, a Lithuania-based online bank licensed in the European Union. If the deal clears regulatory review, Payward becomes the first crypto-native firm to own a European bank.
Not a partnership. Not a wrapper. An actual bank.
The Kraken Saldo Bank Deal at a Glance
The acquisition price was not disclosed. Saldo Bank’s total assets have been reported between $181 million (CryptoSlate) and $190 million (CoinDesk). The expected close is 2027, pending regulatory approval. Saldo is an EU-licensed online lender based in Lithuania with an existing operating footprint across the Baltics and Nordics.
What Payward Gets on Day One
An EU banking license comes with the unglamorous essentials: deposits, loans, and payments. The deal would give Payward a regulated base to offer those services across Lithuania, Finland, Sweden, and Germany, with permission to operate in the Netherlands. For a crypto exchange, that means fiat rails and a regulatory seat inside the EU without building a bank from scratch, license by license.
Why Crypto Firms Keep Buying Banks
The pattern is no longer a one-off. Charters and settlement partners have become the plumbing every serious crypto business needs to survive contact with MiCA-era regulation and institutional client expectations. Recent coverage on our pages shows the trend: Kraken parent’s 24/7 dollar settlement tie-up with Singapore Gulf Bank in October, and stablecoin clearing bank Augustus’s $180 million raise at a $1 billion valuation.
What Happens Next
EU regulators will scrutinize ownership, capital, and compliance fit before the deal closes in 2027. If it clears, expect copycats. Buying a bank is slow and expensive, but so is applying for one. Kraken, to its credit, appears to have chosen the faster checkout line.
