Kraken Parent Payward Moves to Acquire Lithuania’s Saldo Bank

Payward, the holding company behind cryptocurrency exchange Kraken, is preparing to acquire Saldo Bank, a licensed bank operating in Lithuania. The reported deal would mark a direct entry by Payward into traditional European banking rather than remaining solely a crypto exchange operator. Lithuania has become a common entry point for financial firms seeking a foothold inside the European Union. Its central bank has issued licenses to a range of fintech and payments companies in recent years. Acquiring a bank already holding such a license would let Payward skip much of the lengthy application process that new entrants typically face.