FORTUNE · 2026-10-14 15:52 UTC

Kraken parent company Payward to become first crypto firm to buy a European Bank

Payward, Kraken's parent company, agreed to acquire Saldo Bank, a Lithuania-based EU-licensed online bank, expected to close in 2027 pending regulatory approval. The acquisition would make Payward the first crypto-native firm to own a European bank and enable it to offer deposits, loans, credit cards, and euro transfers across Lithuania, Finland, Sweden, Germany, and the Netherlands. Payward secured a Federal Reserve account for its U.S. banking arm in July and received a $21 billion valuation from Nasdaq's $100 million investment last month.

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