Kraken Owner Payward to Buy Lithuania’s Saldo Bank in EU Push
Co-CEO Arjun Sethi says customers want cash, crypto, tokenized stocks and credit in one place, starting with lending and cards.
AI summary
Kraken's parent company Payward has agreed to acquire Lithuania's Saldo Bank as part of a broader European Union expansion. Co-CEO Arjun Sethi said the move is driven by customer demand for cash, crypto, tokenized stocks and credit in one place, beginning with lending and cards. The deal signals continued consolidation between crypto firms and regulated banking infrastructure, which traders may read as a positive step for Kraken's product reach and institutional credibility in Europe.
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