The Kraken parent would gain a license to offer interest-bearing deposits, loans, payment cards and euro payments.
Payward, the parent of crypto exchange Kraken, is buying Lithuania's Saldo Bank to obtain an EU banking license.
A Lithuanian banking license would let Payward offer interest-bearing deposits, loans, payment cards and euro-denominated payments under EU banking rules.
If completed, the acquisition would give Payward a bank balance sheet and direct euro payment services.
Reported by The Wrap desk from Digital Capital Daily internal coverage. Published . Corrections
The Kraken parent would use the license to offer interest-bearing deposits, loans, cards and euro payments.
CoinDesk reports the talks are ongoing and may not result in a deal.
The service starts with U.S. dollar transactions for select clients in eligible Asian and Gulf jurisdictions.
The Hong Kong dollar token is fully backed by high-quality liquid assets in separate accounts; a tokenized money market fund share class is next.
The brokerage formerly known as Hidden Road announced the service on Oct. 15, with Virtu already trading.
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