Payward, the parent company of crypto exchange Kraken, has signed a definitive agreement to acquire Finland-based Saldo Finance Oy, the owner of Lithuania-licensed Saldo Bank, in a move designed to expand its regulated banking services across Europe.
The proposed acquisition, which is expected to close in 2027 pending regulatory approvals and standard closing conditions, would give Payward access to Saldo Bank’s existing banking infrastructure across multiple European markets. The company did not disclose the financial terms of the transaction.
Saldo Bank currently operates in Lithuania, Finland, Sweden, and Germany, while holding authorization to extend services into the Netherlands. Its existing offerings include consumer lending, business financing, term deposits, and payment solutions.
Through the acquisition, Payward plans to expand its banking capabilities beyond cryptocurrency services by adding products such as interest-bearing deposits, consumer credit, business loans, and payment cards. The move reflects a broader strategy to combine digital asset infrastructure with traditional financial services.
The acquisition would allow Payward Banking to build on Saldo’s existing banking framework, including its lending infrastructure and partnerships with financial technology companies. Saldo has developed banking-as-a-service capabilities that enable partners to integrate lending products into their own platforms.
Payward also plans to utilize access to the Single Euro Payments Area (SEPA) network, which supports euro-denominated transfers between participating financial institutions. The integration could strengthen Payward’s ability to provide payments and financial products to customers and businesses across Europe.
The company emphasized that the acquisition is part of its longer-term banking strategy. Payward already operates regulated financial infrastructure, including an electronic money institution license from Ireland’s central bank and access to U.S. banking infrastructure through its existing operations.
The Saldo acquisition would add a licensed European banking institution with established deposit and lending capabilities to Payward’s ecosystem. However, the availability of specific banking products for Kraken customers will depend on regulatory approvals, integration progress, and customer eligibility requirements.
The transaction comes as Payward continues expanding its regulated presence across different financial markets. The company has previously increased its regulatory footprint in Europe through crypto-related authorizations and continues developing services that connect digital assets with traditional financial systems.
For the crypto industry, the acquisition highlights the growing competition between digital asset companies and traditional financial institutions. By acquiring banking infrastructure rather than building it from scratch, Payward aims to accelerate its ability to offer broader financial services beyond cryptocurrency trading.
The market will now focus on regulatory approval timelines, the completion of the acquisition process, and how Payward integrates Saldo Bank’s lending and payment infrastructure into its wider financial ecosystem.
