Payward, the parent company of crypto exchange Kraken, has signed a definitive agreement to acquire Saldo Finance Oy, the Finnish holding company that owns Lithuania-licensed Saldo Bank UAB. The October 14 agreement gives Payward a specific European bank target after months of discussing a broader plan to expand beyond digital-asset trading. The transaction is expected to close in 2027, subject to regulatory approvals and customary conditions. Neither Payward nor Saldo disclosed the purchase price, and the bank will not become part of Payward until the deal clears those steps.

A named acquisition replaces an earlier plan

The agreement is a concrete advance from Payward's previously stated intention to acquire a European bank. Payward said Saldo Bank is a digital-first specialized bank licensed in Lithuania, with operations in four markets and passporting into the Netherlands. That footprint is intended to support a wider European banking layer inside Payward's financial infrastructure. The announcement is an acquisition agreement, not a completed transfer of ownership, and it does not mean every planned service is available to Kraken customers today.

Related reporting: Payward maps Kraken expansion into unified financial infrastructure

What Saldo Bank contributes

Saldo Bank already offers retail term deposits in Lithuania, Finland, Sweden and Germany. It provides consumer lending in Lithuania, Finland and Sweden, small-business lending in Lithuania and Finland, and embedded-lending services for fintech partners in Finland and Germany. Payward also highlighted Saldo's card and payments infrastructure, including a credit card launched in Finland and planned for Sweden in 2027. These existing products give the buyer regulated banking capabilities that are different from an exchange's trading, custody or staking functions.

Payward outlines a broader European product set

If regulators approve the acquisition, Payward says its European banking business could add interest-bearing deposits, secured and unsecured small-business loans, consumer credit, card issuance, SEPA payments and banking-as-a-service tools. The company presents those functions as a foundation for combining cash, crypto assets, payments and credit in one system. Product access would still depend on the operating entity, customer eligibility and local rules. The announcement does not provide launch dates, rates, fees or credit terms for future Payward offerings.

Independent reporting adds context

CoinDesk reported that the transaction amount is undisclosed and that Saldo Bank held 163.9 million euros in total assets at the end of 2025, citing European bank data. The publication also noted that Payward had been pursuing a Lithuanian banking license. Payward says its banking operations have originated more than $2 billion in loans and that the group already holds an Irish electronic-money institution license and a limited-purpose Federal Reserve master account in the United States. Those claims describe separate parts of its regulatory footprint; they do not substitute for approval of the Saldo acquisition.

Regulatory approval is the next test

Owning an EU-licensed bank could let Payward provide more services directly rather than depend on outside banks for every deposit, lending or payment function. It would also bring bank-level capital, governance, risk and consumer-protection obligations into a group best known for crypto trading. Supervisors must still assess the buyer, the proposed ownership change and the integration plan. Until the deal closes, Saldo remains the regulated bank and Payward's expanded European product vision remains prospective. The verified development is the signed agreement and identified target, not a completed banking rollout.

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