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

Payward, the parent company of Kraken, has announced a definitive agreement to acquire Saldo Bank, a Lithuania-licensed institution. This strategic move makes Payward the first cryptocurrency firm to purchase a European bank, granting it a footprint across five markets. Through this acquisition, the company will integrate deposit accounts, lending, payment services, and card issuance into its expanding financial operations, allowing it to offer comprehensive banking services to its users throughout the European region.