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 place a regulated European bank within the same corporate group as one of the larger global crypto trading venues.

The move fits a broader pattern of crypto-native firms seeking banking licenses and regulated footholds in Europe. Owning a bank can give a group direct access to payment rails, deposit-taking and lending infrastructure, rather than relying on third-party partners. Lithuania's banking sector has become a common entry point for fintechs and crypto firms operating under European Union rules, since a local license can support passporting across the bloc.

What to watch: whether the transaction clears Lithuanian and EU regulatory approvals, and how the bank will be integrated alongside Kraken's existing services. Also worth monitoring is whether the acquired entity is used to expand fiat on-ramps and custody-adjacent services for European clients. For now, the announcement signals consolidation between traditional banking and digital-asset infrastructure rather than a completed change in the competitive landscape.