Kraken parent Payward agrees to acquire a Lithuanian bank

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Payward, the parent company of crypto exchange Kraken, has agreed to purchase Lithuania's Saldo Bank. The deal, announced through a report by CoinDesk, will make Payward the first crypto-focused firm to acquire a licensed bank in the European Union. The acquisition of Saldo Bank, which holds approximately $190 million in assets, provides Payward with a full EU banking license. This license will allow the company to expand its services into regulated deposit-taking and lending operations.

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