Payward, the parent company of crypto exchange Kraken, is acquiring Saldo Bank, a Lithuania-based lender holding a European banking license, as it expands into lending and card issuing. This is the first time a digital asset company has bought a bank in Europe. Customers will be able to borrow and lend against their assets without selling them, combining cash, crypto, tokenized stocks and credit into a single system. The deal amount was not disclosed and closing is expected in 2027, subject to regulatory approvals. The acquisition follows Payward’s purchase of derivatives exchange Bitnomial for $550 million in April and Asian stablecoin payments firm Reap Technologies for $600 million in May.
Source: Read the original article
Disclaimer: this content is for information purposes only and is not financial advice. Cryptocurrencies are highly volatile: you may lose all of your capital. Always do your own research. Legal notice
