Payward, the parent company of crypto exchange Kraken, has signed a definitive agreement to acquire Finland's Saldo Finance Oy. Its subsidiary Saldo Bank UAB is a digital bank licensed in Lithuania, active in four markets with a passport into the Netherlands. After closing, expected in 2027 subject to regulatory approval, Payward plans to offer interest on deposits, loans, cards and SEPA payments. Financial terms were not disclosed.

What it means: The deal shows that large crypto firms are no longer satisfied with e-money or MiCA licences and want a full banking licence so they can hold deposits and lend. For European competition this means customers may soon see a euro account, crypto investments and loans backed by those assets inside one app, something traditional banks rarely offer. Through EU passporting, a bank licensed in Lithuania could in principle expand to other member states, Greece included, if it chooses to. For Greek banks and fintechs, the message is that competition for digital customers is also coming from companies with a different culture and pace. For supervisors, the case will test how prudential rules apply to a group with significant crypto exposure. Businesses already using crypto platforms to pay suppliers should watch which services become available and under what deposit guarantee, because that changes the risk profile of their cash holdings and how treasury policies should treat those balances.

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