Payward, the parent company of cryptocurrency exchange Kraken, agreed to acquire Lithuania-based Saldo Bank as it expands beyond crypto trading into traditional financial services. Saldo has held a European Union banking license since 2021, meaning the acquisition would give Payward a regulated banking platform in Europe if the deal receives approval .
Saldo offers consumer and business lending alongside term deposits, while Payward plans to combine banking products with its existing digital asset services. The strategy could eventually let customers access cash, crypto, tokenized stocks, credit and other financial products through a broader integrated platform, with lending and card services among the areas Payward intends to develop through the bank .
The purchase price was not disclosed, and the transaction remains subject to regulatory approval. Completion is expected in 2027 , making authorization of the acquisition the main next step before Payward can fully use Saldo’s banking infrastructure as part of its European expansion.
Source: Financial Times .
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