Kraken Parent Payward Moves to Acquire EU-Regulated Saldo Bank

Kraken's parent company, Payward, is reportedly acquiring Lithuania-based Saldo Bank, according to the Financial Times, marking a significant expansion into traditional banking services.
The acquisition could provide infrastructure for lending, payment cards and other financial products, allowing Kraken to broaden its business beyond cryptocurrency trading.
The deal also highlights increasing convergence between regulated banking and digital asset platforms in Europe.
While the transaction has been described as a potential industry first, that distinction requires confirmation. Completion remains dependent on applicable regulatory approvals and other closing conditions.