Kraken Owner to Buy Lithuanian Saldo Bank - Markets Media

Payward, the parent company of crypto exchange Kraken, has agreed to acquire Lithuanian lender Saldo Bank, according to Markets Media. The deal would bring a licensed European bank within the same corporate group as one of the larger global crypto trading venues.

The move reflects a broader trend of crypto-native firms seeking regulated banking footholds in Europe. Holding a bank license can support services such as fiat deposits and withdrawals, payments, and custody — areas where crypto companies have historically depended on third-party institutions. Lithuania's banking framework, supervised within the euro area, gives licensed entities access to the European single market, which is a key draw for firms building cross-border financial services.

What to watch: whether the transaction clears regulatory approvals and on what timeline, and how Payward intends to integrate the bank with Kraken's existing operations. Any shift in how the bank serves its current customers would also matter. For now, the agreement signals continued convergence between crypto trading and traditional banking in Europe, a theme worth tracking across the sector.