Payward, the parent company of cryptocurrency exchange Kraken, has signed a definitive agreement to acquire Saldo Finance Oy, the Finnish holding company of Lithuania-based digital bank Saldo Bank UAB. Saldo Bank's EU banking license and footprint would let Payward expand into four operating markets, including Lithuania, Finland, Sweden and Germany, with the authorization also passported into the Netherlands. The deal is expected to close in 2027, subject to customary regulatory approvals, and would enable Payward Banking to offer deposit interest, lending and banking-as-a-service such as card issuance and SME lending. Co-CEO Arjun Sethi said a regulated EU bank lets the company serve European clients the way a primary financial institution should.
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