Crypto Exchange Kraken’s Owner Eyes European Bank Acquisition   

Payward, the parent company of the crypto exchange Kraken, plans to acquire Saldo Bank, a Lithuanian lender that operates under European Union banking regulations.

According to the Financial Times, the acquisition is expected to be finalized in 2027, pending regulatory approval. The proposed deal would provide Kraken with a presence in European banking and create new opportunities to integrate digital assets with traditional financial services.

Payward’s Growing Appetite for Acquisitions

Saldo Bank offers something that Payward cannot easily copy: an established banking operation with an EU banking license. Licensed in 2021, the Lithuanian bank offers personal and business loans and term deposits, creating a potential foundation for Payward to expand its financial services.

Arjun Sethi, co-CEO of Payward, said the company aims to integrate cash, digital assets, tokenized stocks, and credit within a single financial ecosystem. The straightforward idea is that customers could potentially borrow against their investments rather than selling assets to obtain cash.

Moreover, Payward is not viewing traditional banking as a standalone opportunity. Its acquisition of NinjaTrader in 2025 enhanced its position in futures trading. In addition, Payward announced plans in 2026 to acquire Bitnomial in a deal valued at up to $550 million, pending regulatory approvals.

These acquisitions show the company is willing to invest in developing a financial business that extends well beyond its flagship crypto exchange business.

A Nod Towards Bullish Market Trend?

There is also a financial narrative behind the timing of Payward’s expansion. Large acquisitions often become more common during crypto bull markets, when rising asset prices, increased investor confidence, and better access to capital encourage companies to pursue ambitious deals.

Payward’s expanding acquisition portfolio aligns with this broader trend. Still, Saldo’s acquisition alone does not definitively indicate that the market is currently experiencing a bull run. Instead, it shows the company has enough capital to expand its empire.