Payward Inc., the parent company of the Kraken cryptocurrency exchange, agrees to acquire Lithuania-based Saldo Bank’s holding company. Multiple outlets report that the bank, which supports deposits and lending, holds about $190 million in total assets, and the deal is aimed at securing an EU banking license for Payward’s expansion in traditional financial services.
According to reporting, Payward expects to close the acquisition in 2027. The move is described as part of a broader push into deposit-taking and lending across multiple EU markets already served by Saldo Bank. One outlet also quotes Payward leadership linking the strategy to offering customers integrated services that combine cash access with crypto and additional financial products.
Outlets broadly align on the identity of the target and the purpose of obtaining EU authorization for deposits and lending, while differing mainly on emphasis—some focus on the regulatory license and banking capability, while others highlight the timeline and product ambitions tied to “traditional finance” offerings.
