Payward acquires Lithuania's Saldo Bank to expand services

Kraken: Kraken is a cryptocurrency exchange platform operated by Payward. The platform is expanding its European footprint through its parent's acquisition of a specialized bank in Lithuania, enabling deeper integration of crypto services with traditional banking products such as deposits and lending across the EU. Payward: Payward is the parent company of the Kraken cryptocurrency exchange and a financial infrastructure firm focused on global licensing and banking partnerships. In recent weeks it has pursued a European bank acquisition to offer deposit-taking, lending, and card services, while also securing full regulatory approval for operations in Dubai and advancing settlement partnerships in Asia and the Gulf. Saldo Bank: Saldo Bank is a specialized bank based in Lithuania that holds an EU banking license and provides deposit and limited lending services in several European markets. Payward's acquisition of the bank will allow the parent of Kraken to leverage its license for broader EU banking activities including payments, lending, and cards. EU Expansion: Payward's acquisition of the Lithuanian bank will provide an EU banking license to support deposit-taking, lending, payments, and card issuance across the European Economic Area. Banking Partnerships: Payward has formed partnerships with traditional banks to enable 24/7 fiat settlements for institutional clients, extending beyond its exchange operations. Global Licensing Push: Payward recently obtained full market approval from Dubai's VARA, clearing the way for Kraken's launch of regulated virtual asset services in the UAE.