Kraken Parent Payward Agrees to Acquire Lithuania’s Saldo Bank
Payward has agreed to buy Saldo Bank in Lithuania, a move that would give Kraken’s parent an EU banking license covering deposits and lending.
Payward, the parent company of crypto exchange Kraken, has reached an agreement to acquire Lithuania-based Saldo Bank, according to CoinDesk.
Saldo Bank has $190 million in total assets. The acquisition would give Payward an EU license to accept deposits and provide loans, expanding its activities into banking.
CoinDesk described the proposed acquisition as the first purchase of an EU bank by a crypto company. The report did not specify a purchase price or a timeline for completion.
Source: CoinDesk
