The acquisition of specialized bank Saldo Bank provides Payward with a European Union banking license supervised by the Bank of Lithuania and European Central Bank

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From the articleKraken moves to acquire $181 million European bank in major push beyond crypto tradingAlso in Kraken parent Payward agrees to buy Saldo Bank and secure EU banking license, Crypto exchange Kraken owner to buy European bank, Kraken Parent Payward To Buy Saldo Bank In EU Banking Push, Saldo Bank could become Kraken parent Payward's EU bank by 2027, Payward Acquires Saldo Bank to Expand Crypto Banking in Europe, Payward targets EU banking license with acquisition of $190M-asset Saldo Bank, Kraken parent company Payward to become first crypto firm to buy a European Bank | Fortune