Skip to main content
BitCurrent

Crypto markets, protocols and policy

Payward agrees to buy Lithuania’s Saldo Bank

Payward agreed to acquire Lithuania’s Saldo Bank, a deal that could give Kraken’s parent a regulated EU base for deposits, lending and payments, pending approval.

BitCurrent Newsroom2 min read

Payward agrees to buy Lithuania’s Saldo Bank

Kraken parent Payward agreed to buy Lithuania’s Saldo Bank, a move that could give the crypto company a regulated base for expanding into European banking. Payward’s announcement says the deal covers Saldo Finance Oy, the Finnish holding company whose subsidiary is the licensed bank.

  • Five European markets: four operating markets plus a passport into the Netherlands.
  • More than $2 billion in loans originated by Payward’s banking business, according to the company.
  • Expected closing: 2027, subject to regulatory approvals and customary conditions.

What did Payward agree to acquire?

Payward signed a definitive agreement to acquire Saldo Finance Oy, which owns Saldo Bank UAB, a digital-first bank licensed in Lithuania. The price was not disclosed, CoinDesk reported.

Saldo Bank operates in Lithuania, Finland, Sweden and Germany, with a passport to operate in the Netherlands. The bank already offers retail term deposits and consumer and small-business lending in parts of that footprint.

Which services could the deal add?

Payward says the acquisition is expected to enable interest-bearing deposits, loans, card services and euro payments for European customers, subject to regulatory approvals. The company also cited banking-as-a-service capabilities, including card issuance and lending infrastructure for partners.

Those offerings build on services Saldo already runs. Its credit card is live in Finland, while a Swedish launch is expected in 2027, according to Payward.

When could the acquisition close?

Payward expects the transaction to close in 2027, but the announcement does not say when regulators will decide. Until approvals and closing, the proposed expansion remains conditional.

The deal would give Payward access to an EU-licensed bank and its existing infrastructure. The announcement does not specify when any new Payward-branded deposit or lending products would launch.

Source material