Kraken parent Payward to become first crypto firm to buy a EU bank as it expands into deposits, lending
Source: CoinDesk ·
From the source
Payward agreed to buy Lithuania’s Saldo Bank, which holds $190 million in total assets, securing an EU license for deposits and lending. Payward, the parent company of crypto exchange Kraken, said it agreed to acquire Lithuania-based Saldo Bank for an undisclosed amount, giving it a European Union (EU) banking license as it expands beyond crypto trading into traditional financial services. The acquisition will make Payward the first crypto firm to buy a bank in Europe, according to a Financial Times report , as crypto firms increasingly compete with traditional lenders. Payward did not immediately respond to a CoinDesk request for more details on the amount of the acquisition deal. Saldo Bank had 163.9 million euros ($180 million) in total assets at the end of 2025, up 22.7% from a year earlier, according to The Banks . Kraken had been seeking a banking license in Lithuania , CoinDesk reported in July. In the U.S., Payward has applied for a national trust bank charter , while its…