Arjun Sethi

Payward, the parent company of Kraken, has agreed to acquire Lithuania-based Saldo Bank for an undisclosed amount, a move that would give it a European Union banking license if regulators approve the deal. The transaction would broaden Payward’s reach from crypto trading into deposits, lending, card services and euro payments across Europe.

Kraken parent Payward is pushing beyond crypto exchange trading with a strategy spanning banking, derivatives, tokenized equities, asset management and business infrastructure. The company says its unified ledger model, acquisitions and institutional partnerships are designed to support financial products across multiple brands and channels.

Payward plans to offer U.S. clients access to onchain perpetual futures markets on Hyperliquid, subject to regulatory approval. The proposal would use Bitnomial Exchange and NinjaTrader Clearing to place a popular crypto derivatives product inside a regulated U.S. framework.

Kraken is pursuing a full banking license in Europe, with Lithuania emerging as the focal jurisdiction for the plan. The move would deepen the crypto exchange’s regulated financial services ambitions as its parent company Payward seeks broader licensing worldwide.