TLDR
- Payward is exploring full banking licenses outside the U.S. as part of its global expansion.
- Dave Ripley named trading, banking and asset management as three core areas for Payward’s growth.
- Payward already provides payments, lending, yield products and custody services through its financial businesses globally.
- Kraken Financial operates under a Wyoming charter but cannot lend customers’ fiat deposits to borrowers.
- Mark Greenberg said Payward could eventually offer traditional financial products such as mortgages to customers.
Kraken parent Payward is exploring full banking licenses outside the United States as the company expands beyond crypto trading into banking, asset management and broader financial services.
Payward Looks at Full Banking Licenses Outside US
Payward and Kraken co-CEO Dave Ripley said the company is considering becoming a fully licensed bank in some international markets. He did not identify the countries under consideration or specify which banking licenses the company could pursue.
“We are looking into actually becoming a full bank in some of our other geographies, likely not the U.S. immediately,” Ripley said during the Wyoming Blockchain Symposium 2026. The plan remains under consideration, and Payward has not announced an application or timeline.
Ripley identified trading, banking and asset management as three areas Payward is building around as it expands its financial services. He described banking as covering payments and money transfers, lending, yield products and custody, services that Payward already provides in different forms.
“What is banking? It’s payments and money movement. It’s lending. It’s yield. It’s custody,” Ripley said. “We do all four of those things.” A conventional banking license could allow the company to provide more of those services to a wider group of customers.
Kraken Financial Already Operates Under Wyoming Charter
Payward already operates Kraken Financial under a Wyoming Special Purpose Depository Institution charter. The business launched in March 2024 and provides digital asset custody and deposit account services for institutional customers.
The charter differs from a conventional commercial banking license. Kraken Financial cannot use customer fiat deposits to make loans, while its accounts do not receive Federal Deposit Insurance Corporation coverage. The company also received limited access to a Federal Reserve master account earlier this year, connecting it directly to parts of the U.S. central bank’s payment infrastructure.
A full banking license in another jurisdiction could broaden the range of products Payward can provide. Ripley said conventional banking status would allow the company to make more existing financial services available to more users, although the company has not detailed what additional products would launch first.
Payward’s banking plans form part of its expansion beyond its core Kraken crypto exchange business. The company is developing financial infrastructure that connects digital asset trading with payments, custody, lending and asset management.
Payward Considers Mortgages as Financial Services Expand
Payward Chief Commercial Officer Mark Greenberg also raised the possibility of offering traditional lending products over time. Mortgages are among the services the company could consider if customers seek more financial products through the platform.
“If they want to come to us and get a mortgage at some point, hopefully we can offer those kinds of services,” Greenberg said. The comments described a possible future product rather than a confirmed mortgage launch.
Payward has not disclosed when it could seek a full banking license or which markets it considers suitable. Any expansion would depend on local licensing requirements and regulatory approval, while Kraken Financial continues operating under its existing Wyoming charter.
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