Under EU rules, Saldo Bank's specialized banking license grants passporting rights to extend regulated financial services into member countries without seeking individual national licenses

From the articleSaldo Bank could become Kraken parent Payward's EU bank by 2027Also in Kraken parent company Payward to become first crypto firm to buy a European Bank | Fortune, Kraken Parent Payward To Buy Saldo Bank In EU Banking Push, Kraken parent Payward agrees to buy Saldo Bank and secure EU banking license, Payward Acquires Saldo Bank to Expand Crypto Banking in Europe