Kraken co-CEO Arjun Sethi on why the exchange is buying a bank to give customers yield and loans "We've agreed to acquire a company called Saldo, which is the bank in Lithuania. We're still going to work with regulators and hopefully, knock on wood, we expect that to happen, closed out in 2027." "I think today a payments firm can park your money. It has safeguard. It's one for one in some cases. It can't pay you on it. And it can't lend against it. A bank can do both." "I always go back to first principle, which is collateral. What you want to be able to do for your customers with collateral is anything that a bank can do." "Lending against what you hold becomes really important for that collateral. Getting yield, as much yield as possible becomes important." "A lot of people ask, why are you doing these? It's because our customers have been asking for all of these products and services around banking and asset management." "A bank license in one EU country then can also passport to the other member states."