Payward Targets European Banking Market With Saldo Deal

Payward, the parent company of crypto exchange Kraken, signed an agreement on October 14 to acquire Saldo Finance Oy, which owns Lithuania-based Saldo Bank. The deal would give Payward access to a European Union banking license , subject to regulatory approval. The company did not disclose the purchase price. Payward expects to close the acquisition in 2027 after regulators review the transaction and other closing conditions are met. Saldo Bank holds a specialized banking license in Lithuania. The European Central Bank licenses Saldo, while Lithuania’s central bank regulates its local operations. It already serves customers in Lithuania, Finland, Sweden and Germany, and has authorization to enter the Netherlands—Payward plans to use that network to offer more financial services.

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