Payward Signs Deal to Buy Saldo Bank, Opening a Path for Kraken Parent Into EU Banking

Payward, the parent company of crypto exchange Kraken, has signed a definitive agreement to acquire Saldo Finance Oy, the Finnish holding company that owns Lithuania-licensed digital lender Saldo Bank UAB. The deal, announced on Oct. 14, would give Payward a route into regulated banking services in the European Union, including the ability to offer interest on deposits and expand lending once the transaction closes. No purchase price was disclosed, and Payward said it expects the acquisition to close in 2027, subject to regulatory approval and customary closing conditions. Saldo Bank operates across Lithuania, Finland, Sweden and Germany, with passporting access into the Netherlands, and serves both retail and small-business customers. Its products include term deposits in all four markets, consumer lending in Lithuania, Finland and Sweden, and business lending in Lithuania and Finland. Payward said it plans to use the bank to pay yield on deposits, broaden lending products such as credit cards, and offer banking-as-a-service capabilities including card issuance and access to SEPA payments. The company said integration work and regulatory approval efforts are already underway.