Payward targets EU banking license with acquisition of $190M-asset Saldo Bank
Summary
Kraken parent Payward agreed to acquire Lithuania-based Saldo Bank for an undisclosed amount, gaining an EU banking license as it expands into traditional financial services. The deal could enable Payward to offer European customers interest-bearing deposits, loans, card services and euro payments. Saldo is licensed in Lithuania, Finland, Sweden and Germany and can operate in the Netherlands. The acquisition requires regulatory approval and is expected to close in 2027.
