Payward, the parent company of cryptocurrency exchange Kraken, has signed a definitive agreement to acquire Saldo Finance Oy, the Finnish holding company behind Lithuania-licensed Saldo Bank, marking a significant expansion of its European financial services strategy.
The proposed acquisition is designed to strengthen Payward's regulated banking infrastructure and support its broader plans to connect traditional banking services with digital assets and other financial products.
Saldo Bank is a digital-first specialized bank licensed in Lithuania, with authorization to operate across several European markets. Its existing banking capabilities include consumer and business lending as well as deposit products.
Through the acquisition, Payward aims to expand its ability to offer financial services such as payments, lending, card issuance and banking products alongside cryptocurrency trading, custody and tokenized assets.
The transaction reflects the growing convergence between traditional banking institutions and digital asset companies as financial technology providers seek stronger regulatory foundations and greater control over payment and banking infrastructure.
Payward already operates a range of financial businesses covering trading, custody, payments and lending. The planned acquisition would add a European banking institution to that infrastructure, supporting the development of integrated financial services for customers across the region.
The company has indicated that regulated financial infrastructure is central to its long-term strategy, particularly as demand increases for services connecting conventional currencies with blockchain-based assets.
The acquisition remains subject to regulatory approval and is expected to be completed in 2027. Financial terms of the transaction have not been disclosed.
If approved, the deal could strengthen Payward's competitive position in Europe and support its efforts to develop a broader financial ecosystem combining digital asset services with established banking products.
The transaction also highlights the increasing interest of cryptocurrency companies in acquiring regulated financial institutions as the digital finance industry continues to mature.
