Payward, the parent company of cryptocurrency exchange Kraken, has signed a definitive agreement to acquire Saldo Finance Oy, a Finnish holding company whose subsidiary Saldo Bank UAB is a digitally licensed bank in Lithuania. The acquisition, expected to close in 2027 pending customary regulatory approvals, would enable Payward Banking to expand into four EU markets (Lithuania, Finland, Sweden and Germany) and offer traditional banking services including retail term deposits, lending products and banking-as-a-service. CEO Arjun Sethi stated that a regulated EU bank would allow Payward to serve European clients as a primary financial institution, offering one place to hold assets, move them freely and put them to work.
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