Payward agrees to buy Lithuania’s Saldo Bank

Payward, the parent company of crypto exchange Kraken, agreed on Oct. 14 to acquire Lithuania’s Saldo Bank, a move that could give it a licensed route into European deposits, lending and payments. Payward’s announcement says the deal is for Saldo Finance Oy, a Finnish holding company whose subsidiary is Saldo Bank UAB, a digital-first bank licensed in Lithuania. The price was not disclosed.

The sequence is straightforward: Payward is buying the company that owns the bank; the bank brings its existing license and financial infrastructure; and, after the deal closes and receives regulatory approvals, Payward expects to use that infrastructure to expand its European services. The acquisition is expected to close in 2027, subject to customary closing conditions and regulatory approval.

What does Saldo already offer across Europe?

Saldo already has deposit and lending products in several markets. Payward says the bank takes retail term deposits in Lithuania, Finland, Sweden and Germany. It offers consumer loans in Lithuania, Finland and Sweden, and loans to small and medium-sized businesses in Lithuania and Finland. Its credit card is available in Finland, with a Swedish launch expected in 2027.

The bank also runs embedded lending partnerships in Finland and Germany, where fintech companies use Saldo’s lending infrastructure to offer credit to their own customers. Payward says Saldo operates in four markets and holds a passport to operate in the Netherlands. That cross-border permission is part of the acquisition’s value: it could give Payward a base for offering banking services across more than one European market.

How would the acquisition change Payward’s services?

Payward says that, once the deal closes and subject to regulatory approvals, it expects to offer interest on deposits, secured and unsecured small-business loans, consumer lending and credit cards. It also says the bank’s infrastructure could support full SEPA payments access, card issuance and embedded lending for business partners. SEPA is the euro payment system used for bank transfers across much of Europe.

These plans would add bank services alongside Payward’s existing crypto and financial infrastructure. The company says its banking business has originated more than $2 billion in loans and holds an electronic money institution license in Ireland. An acquisition of Saldo would add a licensed bank to that existing setup; it would not mean every planned service becomes available as soon as the deal is announced.

What needs to happen before the deal takes effect?

Regulatory approval and closing come first. CoinDesk reported that Saldo had €163.9 million in total assets, about $180 million, at the end of 2025, citing The Banks. The purchase price remains undisclosed.

The immediate change is an agreement to acquire an existing European bank and its operating infrastructure. The next milestones to watch are regulatory approval, the expected 2027 closing and which customer products Payward makes available afterward.

References

• Payward’s announcement — payward.com
• CoinDesk reported — coindesk.com