Kraken plans to acquire EU-regulated Saldo Bank.
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According to a Financial Times report, Payward, the parent company of crypto exchange Kraken, plans to soon acquire EU-regulated Saldo Bank, with the transaction expected to close in 2027. The acquisition aims to secure a full banking license as part of its decade-long global license expansion plan. This will make Kraken the first major crypto trading platform to hold full banking status, enabling deeper integration with traditional finance (deposits, payments, custody) under the MiCA framework and surpassing its existing licenses in Ireland and Cyprus. The move is also linked to the company’s broader regulatory expansion ahead of a potential U.S. IPO. Saldo Bank is a Finnish fintech bank headquartered in Vilnius, Lithuania, founded in 2006 and a subsidiary of Finland’s Saldo Finance. Its core asset is a specialized banking license issued by the European Central Bank in October 2021, overseen by the Bank of Lithuania, allowing it to offer deposit, lending and payment services across the EU. Operationally, Saldo Bank focuses on automated lending solutions, providing loans to consumers and SMEs via its proprietary credit scoring system, alongside term deposits and credit card services. It currently operates in three markets: Lithuania, Finland and Sweden.
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