COINTELEGRAPH · 2026-10-14 12:28 UTC

Kraken parent to buy Lithuanian Saldo Bank amid TradFi expansion

Payward, Kraken's parent company, signed a definitive agreement to acquire Saldo Bank UAB, a digital bank licensed in Lithuania with an EU banking license. The acquisition, expected to close in 2027, will enable Payward to expand into Lithuania, Finland, Sweden, and Germany, offering traditional banking services including deposits, lending, and banking-as-a-service. Payward co-CEO Arjun Sethi stated the EU bank license allows them to serve European clients as a primary financial institution with asset holding, movement, and investment capabilities.

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