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Kraken parent Payward agrees to acquire Lithuania's Saldo Bank

Payward, the operator of cryptocurrency exchange Kraken, has agreed to acquire Lithuania-based Saldo Bank in a transaction expected to close in 2027 pending regulatory approval.

Kraken logo with white lettering and octopus emblem centered on a purple background.
Image: @solidintel_x

Payward, the parent company of cryptocurrency exchange Kraken, has agreed to acquire Lithuania-based Saldo Bank, according to reports from the Financial Times. If completed, the transaction would make Payward the first digital-asset firm to acquire a European bank.[2][4][5][6][7]

Saldo Bank obtained its EU banking license in 2021 and holds $190 million in total assets. The acquisition provides Payward with an EU-regulated banking framework to deliver traditional financial services, including term deposits, personal and business lending, card issuance, and SEPA payments across four European markets.[2][6][8][10][12]

Payward co-CEO Arjun Sethi stated that the company plans to combine cash, crypto assets, tokenized stocks, and credit into a unified platform, allowing customers to borrow against their holdings without selling them. The purchase price was not disclosed, and the deal is subject to regulatory approval with an anticipated closing in 2027.[1][3][5][6][9][11]

Key facts

  • Kraken parent company Payward agreed to acquire EU-regulated Lithuanian institution Saldo Bank.
  • If approved, Payward would become the first crypto company to acquire a European bank.
  • Saldo Bank received its EU banking license in 2021 and holds $190 million in total assets.
  • The transaction will support Payward offering European deposits, lending, card issuance, and SEPA payments across four EU markets.
  • Payward co-CEO Arjun Sethi stated the platform will integrate cash, crypto, tokenized stocks, and credit so clients can borrow without liquidating assets.
  • The financial terms of the purchase were not disclosed.
  • The deal requires regulatory approval and is expected to close in 2027.

Sources 路 12 sources

  1. SI

    Solid Intel 馃摗@solidintel_xPost on X 路

    INTEL: Kraken plans to acquire EU-regulated Saldo Bank in a deal expected to close in 2027 https://t.co/VNCoMYZ15H

    Open source
  2. CO

    CoindeskArticle 路

    Kraken parent Payward to become first crypto firm to buy a EU bank as it expands into deposits, lending Payward agreed to buy Lithuania鈥檚 Saldo Bank, which holds $190 million in total assets, securing an EU license for deposits and lending.

    Open source
  3. CN

    crypto.news@cryptodotnewsPost on X 路

    JUST IN: Kraken parent Payward moves to acquire EU-regulated Lithuanian bank Saldo The deal, however, requires regulatory approval and is expected to close in 2027. https://t.co/yqyqTBlu7i

    Open source
  4. CB

    Coin Bureau@coinbureauPost on X 路

    JUST IN: Kraken's owner is buying EU-regulated Saldo Bank, becoming the first crypto firm to acquire a European bank, per FT.

    Open source
  5. CO

    CoinDesk@CoinDeskPost on X 路

    LATEST: @Krakenfx parent @Payward agrees to acquire Saldo Bank in Lithuania, set to become the first digital asset company to buy a bank in Europe, with plans to combine cash, crypto, tokenized stocks and credit in a single platform, per the FT. https://t.co/tLXKYQELU0

    Open source
  6. WB

    Wu Blockchain@WuBlockchainPost on X 路

    Kraken Parent Payward to Acquire EU-Regulated Lithuanian Bank Saldo Kraken鈥檚 parent company Payward has announced plans to acquire Saldo Bank, an EU-regulated bank in Lithuania, to expand into traditional banking services such as lending and card issuance, the Financial Times reported. The price was not disclosed. The deal is expected to close in 2027 if it receives regulatory approval. Payward co-CEO Arjun Sethi said the company plans to integrate cash, crypto assets, tokenized stocks and credit, allowing customers to borrow without selling assets. Saldo Bank received its EU banking licence in 2021 and offers personal and business loans as well as term deposits. If completed, the transaction would make Payward the first digital-asset company to acquire a European bank.

    Open source
  7. FT

    Financial Times@FTPost on X 路

    Crypto exchange Kraken owner to buy European bank https://t.co/diiiEY5nRH

    Open source
  8. CT

    Coin TelegraphArticle 路

    Kraken parent to buy Lithuanian Saldo Bank amid TradFi expansion Payward expects to close the acquisition in 2027, enabling it to expand its traditional banking services into four EU operating markets already served by Saldo Bank.

    Open source
  9. TB

    The Block@TheBlockCoPost on X 路

    NEW: Kraken parent company Payward is buying EU-regulated Lithuanian bank Saldo, according to the Financial Times. The deal is subject to regulatory approval and is expected to close in 2027. https://t.co/jdjyLf2gm9

    Open source
  10. CO

    Cointelegraph@CointelegraphPost on X 路

    馃嚤馃嚬 NEW: Kraken parent Payward is buying Lithuania鈥檚 Saldo Bank to expand into lending and card services, FT reports. https://t.co/ZZGx8fDbTI

    Open source
  11. DE

    DecryptArticle 路

    Kraken Owner Payward to Buy Lithuania's Saldo Bank in EU Push Co-CEO Arjun Sethi says customers want cash, crypto, tokenized stocks and credit in one place, starting with lending and cards.

    Open source
  12. CB

    Crypto Briefing@Crypto_BriefingPost on X 路

    馃挜 NEW: Kraken parent Payward has agreed to acquire Saldo Bank, adding an EU banking license to support European deposits, lending, card issuance and SEPA payments. https://t.co/Fqq86Hq97Z

    Open source