Kraken Parent Payward Moves Into European Banking With Saldo Deal

Payward, the company behind crypto exchange Kraken, has agreed to acquire Lithuania-based Saldo Bank, taking a route into European banking that goes beyond obtaining another exchange registration. TL;DR: The proposed acquisition would give Payward an existing licensed banking operation in Europe. The deal remains subject to regulatory approval and is expected to close in 2027. Saldo provides banking products including loans and deposits. Bringing it into Payward would potentially put cash accoun