Kraken parent Payward moves to acquire Lithuania’s Saldo Bank

Payward, the parent company of crypto exchange Kraken, is buying a bank. Not a crypto-flavored bank, but an actual EU-licensed lender supervised by the Bank of Lithuania. On October 14, 2026, Payward announced it would acquire Saldo Finance, the Finnish parent company of Saldo Bank. The stated goal is to push into lending and card services, two businesses that crypto exchanges have long eyed from across the regulatory fence. What Payward is actually getting The financial terms of the transaction were not disclosed. Saldo Bank is supervised by the Bank of Lithuania and authorized by the European Central Bank. According to the deal announcement, owning Saldo would let Payward offer banking services across the European Economic Area. Saldo Bank already operates in several countries. It serves clients in Lithuania, Finland, Sweden, and Germany, and it also holds permissions in the Netherlands. Its loan portfolio is worth €124 million. In 2025, Saldo Bank posted a net profit of €0.96 million. A year earlier, it had recorded a loss of €2.39 million. The deal is anticipated to close in 2027, pending regulatory approvals. A young bank with a full license Saldo Bank has held its EU license ...