Kraken owner Payward plans to acquire a European bank

Payward, the San Francisco-based owner of the crypto exchange Kraken, plans to acquire Saldo Bank in Lithuania. This strategic move aims to transform Payward into a broader financial services company, potentially enhancing its existing financial platform. While the acquisition represents a significant expansion into the European banking sector, the company may face substantial regulatory hurdles and integration challenges during the process. The purchase marks a key step in Payward's evolution toward comprehensive financial service offerings.