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.
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Summary
- Payward, the parent company of the crypto exchange Kraken, agreed to acquire Lithuania-based Saldo Bank for an undisclosed amount, which would give it a European Union banking license.
- The deal would allow Payward to offer European customers interest-bearing deposits, loans, card services and euro payments as it expands beyond cryptocurrency trading.
- The acquisition, which is subject to regulatory approval and expected to close in 2027, would make Payward the first cryptocurrency company to buy a European bank, according to the Financial Times.
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Diversified RWA stablecoins sustain 5-7% yield from real credit as crypto funding compresses to ~4%. GENIUS pushes yield off-chain; TAM grows to $4B in 3 years.
Diversified RWA stablecoins sustain 5-7% yield from real credit as crypto funding compresses to ~4%. GENIUS pushes yield off-chain; TAM grows to $4B in 3 years.
Why it matters:
Diversified RWA stablecoins sustain 5-7% yield from real credit as crypto funding compresses to ~4%. GENIUS pushes yield off-chain; TAM grows to $4B in 3 years.
