Kraken Parent Payward to Buy Lithuania's Saldo Bank, a First for Crypto in the EU
• Saldo Bank: about €164M ($180M) in assets, licensed in Lithuania, Finland, Sweden and Germany
• Price undisclosed; closing expected in 2027 pending regulatory approval
• Plan: interest-bearing deposits, loans, cards and euro payments
A smart move: a bank charter gives Kraken a regulated base most crypto firms are still chasing through piecemeal licenses, though approval risk stays until the deal closes. Not financial advice, DYOR.
#Kraken #CryptoBanking
• Saldo Bank: about €164M ($180M) in assets, licensed in Lithuania, Finland, Sweden and Germany
• Price undisclosed; closing expected in 2027 pending regulatory approval
• Plan: interest-bearing deposits, loans, cards and euro payments
A smart move: a bank charter gives Kraken a regulated base most crypto firms are still chasing through piecemeal licenses, though approval risk stays until the deal closes. Not financial advice, DYOR.
#Kraken #CryptoBanking