According to CoinMeta, as reported by the Financial Times, Kraken's parent company, Payward, announced the acquisition of the EU-regulated Lithuanian bank Saldo Bank in order to expand traditional banking services such as lending and card issuance. The transaction price was not disclosed. If approved by regulators, the deal is expected to be completed in 2027. Payward, co-CEO of Arjun Sethi, stated that the company plans to integrate services such as cash, crypto assets, tokenized stocks, and credit, allowing customers to borrow without having to sell their assets. Saldo Bank obtained an EU banking license in 2021. If this transaction is completed, it will become the first digital asset company to acquire a European bank.