Kraken parent Payward to buy Lithuania's Saldo Bank

AI-generated briefing · First published 2026-10-15 04:11:56 UTC

Payward will acquire Saldo Bank, gaining an EU banking license to expand deposits and lending.

Payward, parent of crypto exchange Kraken, signed a definitive agreement to buy Lithuania-based Saldo Bank, a digital bank with $190 million in assets, to expand into traditional financial services. [1] [2] [3]

The deal, expected to close in 2027 pending regulatory approvals, will give Payward an EU banking license and access to four markets: Lithuania, Finland, Sweden and Germany. [2]

Payward co-CEO Arjun Sethi said the acquisition will let the firm serve European clients with deposits, lending and banking-as-a-service. [2]

Sources

1. Crypto exchange Kraken owner to buy European bank

   FT Markets · 2026-10-14 09:30:02 UTC · Summary only

2. Kraken parent to buy Lithuanian Saldo Bank amid TradFi expansion

   Cointelegraph · 2026-10-14 12:26:05 UTC · Full text

3. Kraken parent Payward to become first crypto firm to buy a EU bank as it expands into deposits, lending

   CoinDesk · 2026-10-14 13:07:45 UTC · Summary only

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