Kraken parent company Payward agrees to acquire Lithuania’s Saldo Bank, expanding its EU banking business
Kraken parent Payward to become first crypto firm to buy a EU bank as it expands into deposits, lending
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Kraken parent company Payward has agreed to acquire Lithuania’s Saldo Bank. The transaction value was not disclosed, and upon completion, Payward will obtain an EU banking license. The deal still requires regulatory approval and is expected to close in 2027; Payward will thereby be able to offer EU customers interest-bearing deposits, loans, bank card services and euro payments.
The acquisition will extend Payward’s business into EU banking services, with the materials listing deposits, loans, bank card services and euro payments among the services it plans to offer local customers.
Source:CoinDesk · coindesk.com