Kraken to acquire EU-regulated Saldo Bank, deal set to close in 2027
Ecosystem ·
The crypto exchange is moving to buy a European bank as it seeks to broaden its regulated financial services footprint in the region.
Kraken has agreed to acquire Saldo Bank, an EU-regulated lender, with the transaction expected to close in 2027, according to a report from the Financial Times. The deal would give Kraken a regulated banking license within the European Union, a structure that could allow it to offer services beyond its existing crypto trading business.
The acquisition is framed as part of a broader push by Kraken to expand its regulated financial services offerings across Europe. Owning a licensed bank would position the exchange to operate under established EU banking rules rather than solely under crypto-specific regulatory frameworks, though the exact scope of services planned under the new structure has not been detailed.
The move is also described as part of an effort by Kraken's owner, Jesse Powell, to extend the company's reach into regulated banking. Four distinct sources are covering the cluster, with accounts converging on the same core details: Saldo Bank as the target, EU regulation as the key attribute, and 2027 as the expected closing timeline.
What remains unclear is the purchase price, the regulatory approvals still required before the deal can close, and how Saldo Bank's existing operations and customers will be integrated into Kraken's broader business. Also unaddressed is whether the long runway to 2027 reflects standard banking-sector merger review timelines or deal-specific conditions. Further detail on these points is expected as the transaction moves through regulatory review.