Kraken to Acquire EU-Regulated Saldo Bank, Deal Expected to Close in 2027

The notable detail is the vehicle, not the venue: Kraken is buying a licensed bank rather than pursuing a standalone EU permit, which suggests banking powers such as deposits and lending are the real target. The long timeline to close leaves room for regulatory scrutiny, so whether the deal clears on schedule is the open question. It also adds to a pattern of crypto firms absorbing regulated banks to gain a footing inside the EU framework.