Key facts
- Payward, Kraken's parent company, is acquiring Lithuania-based Saldo Bank.
- The acquisition aims to expand Payward's traditional banking services into four EU markets.
- Saldo Bank holds an EU banking license and operates in Lithuania, Finland, Sweden, Germany, and the Netherlands.
- The deal is expected to close in 2027, pending regulatory approvals.
- Payward plans to offer services including interest on deposits, lending, and banking-as-a-service.
Payward, the parent company of cryptocurrency exchange Kraken, has signed a definitive agreement to acquire Saldo Bank UAB, a Lithuania-based digital bank. The move is part of Payward's strategy to expand into traditional financial services, leveraging Saldo Bank's EU banking license.