A company that started out as a crypto exchange isn't just after more token listings anymore—it wants a banking license. According to The Block, Kraken parent company Payward is evaluating the possibility of becoming a "full bank" outside the United States.
The report states that Payward is currently expanding into three areas: banking, lending, and asset management. Mortgages were mentioned as a potential future area of focus, though this hasn't moved into actual execution yet.
For a company that built its foundation on crypto trading, a banking license represents an entirely different regulatory logic and business structure—deposits, lending, and asset custody all involve compliance thresholds tied to the traditional financial system, a completely different setup from the crypto trading model the exchange is used to. Payward is looking to clear that hurdle, with its sights set on markets outside the US.
That's all the public information available for now—no specific countries, timelines, or license application progress have been disclosed.
