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10/15/2026

Kraken Parent Payward to Acquire Lithuania’s Saldo Bank, Marking First Crypto EU Bank Deal

What happened: Payward, the parent company of crypto exchange Kraken, has agreed to acquire Lithuania’s Saldo Bank, which holds approximately $190 million in assets and operates with an EU banking lic

Kraken Parent Payward to Acquire Lithuania’s Saldo Bank, Marking First Crypto EU Bank Deal

What happened: Payward, the parent company of crypto exchange Kraken, has agreed to acquire Lithuania’s Saldo Bank, which holds approximately $190 million in assets and operates with an EU banking license. The purchase price was not disclosed. The deal, subject to regulatory approval, is expected to close in 2027 and would make Payward the first crypto firm to own a licensed EU bank.

Why it matters: The acquisition positions Payward to offer deposit and lending services directly to European clients and could set a regulatory precedent for crypto-banking integration in the EU. With passporting rights across multiple European countries, the move may force the European Central Bank to clarify its stance on crypto firms owning regulated banks. Payward’s banking arm has already originated over $2 billion in loans and holds a U.S. Federal Reserve limited-purpose master account.

Source: CoinDesk