Kraken Parent Payward Reaches Deal to Acquire Lithuania’s Saldo Bank

Payward, the parent company of Kraken, has signed a definitive agreement to acquire Saldo Bank, a Lithuania-licensed bank whose holding company is Saldo Finance Oy, according to Payward’s announcement of the transaction.

The company said the deal is intended to expand its financial services footprint beyond crypto trading, with plans that include lending, card issuance and other banking services. Payward also said the acquisition would give it access to Saldo Bank’s existing banking license and operating footprint in Europe.

Saldo Bank holds an EU banking license and operates in several markets, including Lithuania, Finland, Sweden and Germany, with authorization also passported into the Netherlands, according to the materials shared around the deal. Payward said the transaction is expected to close in 2027, subject to regulatory approvals.

Payward frames the purchase as part of a broader banking push

In the announcement, Payward described the acquisition as a step in its longer-term effort to build out banking infrastructure. The company said it aims to combine cash, crypto assets, tokenized stocks and credit within a single offering, allowing customers to borrow without selling assets.

Payward did not disclose the purchase price. The bank itself already offers personal and business loans as well as term deposits, giving the crypto company a licensed platform that could support a wider range of financial products if the deal is completed.

If finalized, the acquisition would mark a notable move for a crypto exchange parent into regulated banking in Europe. For now, however, the transaction remains subject to approval before it can close.