Kraken's Parent Company Acquires European Bank for Expansion
Payward, the parent company of Kraken, is set to acquire Lithuania-based Saldo Bank to expand its European financial services.
Payward, the parent company of Kraken, is set to acquire Lithuania-based Saldo Bank to expand its European financial services. This is an original TLT brief synthesising 3 outlets (Bitcoin.com, Crypto.news, CoinDesk), plus live market data, as of Wed, 14 Oct 2026 18:15:02 UTC.
The acquisition marks a significant move by a major crypto exchange into traditional banking, potentially bridging crypto and fiat services while expanding regulatory compliance and market reach in Europe.
- Payward, Kraken's parent, is acquiring Saldo Bank in Lithuania.
- The deal brings access to deposits, lending, payments, and card services.
- Saldo holds $190 million in assets and operates in five European markets.
- The deal aims to secure an EU banking license for Payward.
Bitcoin.com, Crypto.news, and CoinDesk all report that Payward, the parent company of Kraken, has agreed to acquire Lithuania-based Saldo Bank. The acquisition aims to provide Payward with access to European banking services, including deposits, lending, payments, and card issuance, as corroborated by multiple outlets. However, only CoinDesk specifies that Saldo Bank holds $190 million in total assets, while the other outlets do not provide this detail. The reports agree that the acquisition will grant Payward an EU banking license and expand its footprint across five markets.
Payward, the parent company of cryptocurrency exchange Kraken, is making a strategic move into traditional banking by acquiring Lithuania-based Saldo Bank. This acquisition will allow Payward to offer a range of financial services, including deposit accounts, lending, payment processing, and card issuance, as reported by 
Bitcoin.com, Crypto.news, and CoinDesk.
The acquisition of Saldo Bank, which holds $190 million in total assets according to CoinDesk, will provide Payward with an EU banking license. This license is crucial for operating within the regulatory framework of the European Union and expanding the company's financial services across the region.
Multiple outlets confirm that Saldo Bank operates in five European markets, although specific countries are not named in the coverage. This expansion into traditional banking signifies a broader trend of crypto companies seeking to integrate fiat services and comply with regulatory requirements.
The move comes at a time when the total cryptocurrency market cap stands at $2.83 trillion, with the overall market experiencing a downturn. Bitcoin, the leading cryptocurrency, is down 1.49% in the last 24 hours, and the Fear & Greed Index is at 62, indicating a state of 'Greed' in the market.
The acquisition of Saldo Bank by Payward highlights the growing intersection between cryptocurrency and traditional finance. As crypto companies seek to expand their services and comply with regulations, such acquisitions may become more common. The integration of banking services could provide users with more seamless access to both crypto and fiat transactions, potentially driving further adoption of digital currencies.
Figures and sectors in this story, checked live against on-chain aggregators · October 14, 2026.
TLT reads these figures directly from on-chain aggregators (DeFiLlama, mempool.space) at build time — independent of what any outlet reported. Sector totals aggregate every protocol DeFiLlama tracks in that category. Values are live and will change.
Kraken's Parent Company Acquires European Bank for Expan — questions & answers
What services will Payward offer through Saldo Bank?
Payward will offer deposit accounts, lending, payment services, and card issuance through Saldo Bank.
Why is the EU banking license important for Payward?
The EU banking license allows Payward to operate within the regulatory framework of the European Union and expand its financial services across the region.
How much are Saldo Bank's total assets?
Saldo Bank's total assets amount to $190 million, as reported by CoinDesk.
Which outlets reported this story?
This is an original TLT brief that synthesises reporting from Bitcoin.com, Crypto.news, CoinDesk, with the key figures cross-checked for agreement across them. It is not a copy of any one article — follow the source links above for the original reporting.
Original summary — not financial advice. This is an original TLT brief that summarises a development reported elsewhere and adds live market data for context; it is not the original article and reproduces no part of it. Follow the source link above for full details. Crypto is volatile and high-risk — always do your own research.