Kraken Owner Payward to Acquire Lithuania's Saldo Bank

Key Facts

Payward, the owner of crypto exchange Kraken, is purchasing Lithuania’s Saldo Bank. The Financial Times reported that the acquisition aims to transform the company into a broader financial services provider by integrating traditional banking licenses with digital asset services.

The move to acquire the licensed financial institution is part of a strategic push to offer a more comprehensive suite of financial products across Europe. While specific transaction terms were not disclosed, the deal allows the firm to bridge the gap between regulated banking and the digital asset sector.