Payward, the parent company of cryptocurrency exchange Kraken, has signed a definitive agreement to acquire Saldo Finance Oy, owner of Lithuania-licensed digital institution Saldo Bank UAB.
The transaction details were published on October 14, 2026, through an official press release by Payward. The acquisition forms part of an operational push to scale the Payward Banking unit across European jurisdictions.
Saldo Bank operates under a specialized banking license granted in Lithuania, which authorizes direct activities across Lithuania, Finland, Sweden, and Germany. The institution also maintains passporting permissions within the Netherlands.
This expansion complements Kraken’s existing European product lines, where the group previously deployed United States equity trading covering 7,000 listed assets for eligible retail accounts within the European Economic Area.
Upon completion, Payward plans to integrate Saldo Bank’s infrastructure to provide interest-bearing deposit accounts, credit cards, consumer lending, and financing options for small and medium enterprises across permitted jurisdictions.
The deal will also deliver native SEPA payment rail integration and embedded lending capabilities for fintech partners utilizing Saldo Bank’s current corporate infrastructure.
The acquisition is scheduled to close in 2027. Completion remains contingent upon satisfaction of standard closing requirements and formal authorizations from banking regulators in the European Union.
Payward has assembled banking credentials across multiple markets over several years. In the United States, its state-chartered subsidiary Kraken Financial previously obtained master account access from the Federal Reserve Bank of Kansas City under specific operational restrictions.
The company also maintains an Electronic Money Institution authorization from the Central Bank of Ireland and has originated over 2 billion dollars in loans across its existing operating footprint.
Saldo Bank currently issues consumer loans in Lithuania, Finland, and Sweden, while offering SME credit products in Finland and Lithuania, alongside retail term deposits across its four licensed operational jurisdictions.
Financial terms and total valuation figures for the transaction were not disclosed by either party. Execution of the integration remains subject to formal statutory review by financial regulators through 2027.
This article is for informational purposes only and does not constitute financial advice.
