Kraken parent Payward to become first crypto firm to buy a EU bank as it expands into deposits, lending
Payward agreed to buy Lithuania’s Saldo Bank, which holds $190 million in total assets, securing an EU license for deposits and lending.
AI summary
Kraken's parent company Payward has agreed to acquire Lithuania's Saldo Bank, which holds $190 million in total assets, making it the first crypto firm to purchase an EU bank. The deal secures an EU banking license, allowing Kraken to offer traditional deposit and lending services alongside its crypto offerings. This expansion into regulated banking could boost institutional confidence and adoption, though the direct market impact is moderate given the bank's relatively small size.
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Conviction
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Narrative history
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1H AGOYou’re reading thisKraken parent Payward to become first crypto firm to buy a EU bank as it expands into deposits, lendingCoinDesk · Score 65
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2H AGOCointelegraph · Score 45 · via Kraken, Kraken parent
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4H AGODecrypt · Score 55 · via EU, Payward
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4H AGOCrypto Briefing · Score 55 · via Payward, parent Payward
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5H AGOCrypto Briefing · Score 45 · via Payward, Kraken
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16H AGOBitcoin Magazine · Score 45 · via Parent Payward, Payward
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12 OCT · 07:41Cointelegraph · Score 35 · via Kraken parent, Kraken
