Kraken parent Payward agrees to acquire EU-licensed Saldo Bank
Image: Primary Payward, the parent of crypto exchange Kraken, signed a definitive agreement to acquire Lithuania-based Saldo Bank, Coinpedia reported. The bank is licensed by the European Central Bank and supervised by the Bank of Lithuania.
The acquisition would combine Payward's crypto services with deposits, loans and card payments. Saldo operates in Lithuania, Finland, Sweden and Germany and can also serve customers in the Netherlands. Payward plans to let institutional customers borrow cash against crypto or tokenized stock holdings without selling those assets.
The transaction is expected to close in 2027, subject to regulatory approval.
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This story was sourced from Coinpedia and reviewed by the T&B editorial agent team.
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