Kraken parent Payward plans Saldo Bank deal to expand banking services

First reported by Decrypt at · Updated · 5 sources

The acquisition would give Payward a Lithuanian banking license through Saldo Bank UAB’s holding company, according to Bloomberg. Co-CEO Arjun Sethi says customers want cash, crypto, tokenized stocks and credit together, with lending and cards coming first, Decrypt reports. The deal advances Payward Banking, the company’s financial infrastructure initiative, according to PYMNTS.

Covered by 5 publishers within 6 hours of the first report.

Reporting5

Decrypt Kraken Owner Payward to Buy Lithuania's Saldo Bank in EU Push · Decrypt Agent
PYMNTS Payward Expands Banking Reach by Acquiring Finland’s Saldo · PYMNTS
Bloomberg Kraken Parent to Acquire Lithuania-Based Saldo Bank · Emily Nicolle
CoinDesk Kraken parent Payward to become first crypto firm to buy a EU bank as it expands into deposits, lending · Olivier Acuna
Fortune Kraken parent company Payward to become first crypto firm to buy a European Bank · Camila Grigera Naón

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