In this commentary, the speaker explains that Payward, the company behind the Kraken crypto exchange, announced on October 14 that it will acquire Saldo Bank in Lithuania, making it the first crypto‑owned bank in Europe. Saldo Bank is a fully licensed European Central Bank‑regulated institution that takes deposits in four countries and issues consumer loans. The speaker argues that crypto exchanges need banks because only banks can offer interest‑bearing deposits, loans, cards, and euro payments, and can enable users to borrow against their crypto holdings without selling. Payward’s co‑CEO described the plan as giving customers “one place to hold assets, move them freely, and put them to work.” The video notes that Kraken’s Wyoming bank recently received a limited master account at the Federal Reserve and that Payward has applied for a national trust charter from the OCC, following similar moves by Coinbase and Ripple. The speaker highlights Payward’s recent acquisition spree—Bitnomin and Reap Technologies—and its claim of over $2 billion in loans from its banking side. He predicts a massive wealth transfer as crypto firms integrate traditional banking services, and concludes with a promotional pitch offering a free “Autonomous Trader” tool, urging viewers to click the link in his bio.
Chapters
So word on the street is Kraken's owner just agreed to buy a bank. The crypto company Kraken— Payward, the company behind Kraken, announced October 14th that it's buying Saldo Bank in Lithuania. And the Financial Times says that it would make it the first crypto company to buy a bank in Europe. Look at the timing of the market right now. A bull market is pending, and Saldos is a real bank. It's licensed by European Central Bank. It takes deposits in 4 countries and it makes consumer loans. Payward didn't say what it's actually paying, but it's probably very expensive, right? So the big question is, why does a crypto exchange actually want a bank? Because an exchange can't pay you interest on deposits or lend you money. A bank can. Payward says it would give its customers in Europe deposits that can actually pay interest on loans, cards, and euro payments all in one place. Payward's co-CEO said on October 14th it gives customers, quote, One place to hold assets, move them freely, and put them to work. And obviously he's referring to crypto as well. He also told the Financial Times the plan is to let customers borrow against their assets without selling them. More traditional financial tooling merging into crypto, guys. What do you think is going to happen to the market? Now here's the part that matters for you. Right now, when most holders need cash, they actually sell their crypto. And the moment they sell, they're out. Borrowing against it means you get to get the cash and keep the holding. It's what I currently do on Coinbase, but it's obviously very inconvenient because Coinbase is not a bank. That's how the wealthy families have always used their stocks and their houses to get rich. They never sell their assets. They just take loans against them. Now these crypto companies are buying the banks to do it with crypto. And Kraken is doing it in America too. On March 4th, its Wyoming bank just got approved for a limited master account at the Federal Reserve, a direct line into the Fed's payment system on May 8th. Payward also asked the OCC for a national trust charter And that one's still pending, but they're getting very aggressive. Coinbase and Ripple have already had conditional approval for the same type of charter. Crypto seeping its hand into the banking system. See, the thing is, Payward's been on a buying run all year. In April, it agreed to buy the crypto exchange Bitnomin for up to $550 million. In May, it agreed to buy Reap Technologies for up to $600 million. And Payward says its banking side has already made more than $2 billion in loans. Your crypto is about to work like an actual traditional bank account. Honestly, the crypto companies are buying the traditional bank accounts. It's becoming the banks, and I hope you guys are paying attention. There's going to be a massive wealth transfer. Honestly, it's been so crazy with this wealth transfer stuff, I just got pissed off, and I give away a full Autonomous Trader free now. I used to charge for it. I give it away 100% free. It buys, it sells, and it does all the research for you because I realize that this wealth transfer is going to be so crazy. I need to get as many people into crypto as I possibly can, help them become profitable as quickly as I can. I give it away for free. The link is in my bio. Go to the link in my bio, click it. I am not joking. The full version— you do not have to upgrade is no upgrade version to it, the full version for free.
