Payward, the parent company of cryptocurrency exchange Kraken, has announced plans to acquire Lithuanian Saldo Bank. This move is part of the company's efforts to expand into traditional banking services. The acquisition is expected to be completed in 2027. Once finalized, Payward will gain access to four EU markets already served by Saldo Bank. This development marks a significant step in Payward's expansion into the traditional financial sector.
This article is Bitcoincryptos' summary and analysis of reporting originally published by Cointelegraph. Read the full original report at the link above.
The acquisition will enable Payward to offer a wider range of services to its customers, including traditional banking services. This move is a key part of Payward's strategy to bridge the gap between traditional finance and cryptocurrency. The expansion into EU markets will also increase Payward's global reach and presence.