Kraken's parent company Payward to acquire EU-regulated Lithuanian bank Saldo to offer traditional banking services including lending and card issuance.
Regulation & Gov ·
Payward, parent company of crypto exchange Kraken, is acquiring Saldo Bank, an EU-licensed lender based in Lithuania, as part of its expansion into lending and card services. Co-CEO Arjun Sethi said the acquisition will allow customers to access cash, crypto, tokenized stocks, and credit in a single system, enabling them to borrow and lend against assets without selling. The deal price was not disclosed and is expected to close in 2027 pending regulatory approvals.