Kraken moves to acquire $181 million European bank in major push beyond crypto trading
Kraken parent Payward agreed to acquire Finnish holding company Saldo Finance, owner of Lithuania-based Saldo Bank, gaining a licensed European bank with about €163 million in assets. The deal has undisclosed terms, is subject to regulatory approval and is expected to close in 2027. Saldo operates in Lithuania, Finland, Sweden and Germany, providing deposits, lending and payment services. Payward plans to expand European offerings to include deposits, consumer and business loans, card issuance and SEPA payments, potentially building a banking-as-a-service business. The acquisition would reduce reliance on outside banking partners and extend Payward’s existing financial infrastructure. Approval is not guaranteed, and Saldo’s specialized banking license limits some activities; Payward would also assume credit, deposit and capital responsibilities.
