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10/15/2026

Kraken Parent Payward to Acquire Lithuania's Saldo Bank for EU License

What happened: Payward, the parent company of Kraken, agreed to acquire Saldo Finance, the parent of Lithuania-licensed Saldo Bank, marking the first time a crypto-native firm has agreed to buy an EU

Kraken Parent Payward to Acquire Lithuania's Saldo Bank for EU License

What happened: Payward, the parent company of Kraken, agreed to acquire Saldo Finance, the parent of Lithuania-licensed Saldo Bank, marking the first time a crypto-native firm has agreed to buy an EU bank. Saldo Bank held €163.9 million (~$180 million) in assets at the end of 2025 and has passporting rights across several European countries. The deal, for an undisclosed price, is expected to close in 2027 pending regulatory approval and will upgrade Payward’s existing Ireland EMI license to a full EU banking license.

Why it matters: This acquisition would allow Payward to offer interest-bearing deposits, lending, cards, and banking-as-a-service to European clients, accelerating the convergence of crypto and traditional finance. It also positions Kraken to compete with both fintechs and legacy banks in Europe, while regulatory approval remains a key hurdle. The move aligns with Payward’s broader ambitions, including a U.S. trust bank charter and a Fed master account.

Source: CoinDesk