Payward, the parent company of cryptocurrency exchange Kraken, has agreed to acquire Saldo Finance Oy, the Finnish holding company behind Saldo Bank UAB, in a move designed to expand its regulated banking operations across Europe. The financial terms were not disclosed, and completion is expected in 2027, subject to regulatory approval.
According to Bitcoin Magazine, the transaction would give Payward control of a digital-first specialized bank licensed in Lithuania. Saldo Bank currently operates in Lithuania, Finland, Sweden and Germany, and its license is passported into the Netherlands, allowing it to provide services there under the European regulatory framework.
What the acquisition would add
Payward said the deal is intended to support a broader financial-services platform rather than a business focused only on digital assets. Once the acquisition is completed, its planned Payward Banking operation is expected to offer interest-bearing deposits, loans for consumers and small businesses, credit cards and banking-as-a-service products.
Those business-to-business services would include card issuance, access to SEPA payments and embedded lending for partners. SEPA is the European payments network that enables euro transfers between participating countries, while embedded finance allows non-bank companies to offer financial products within their own customer platforms.
Saldo already provides retail term deposits in all four countries where it operates. It also offers consumer lending in Lithuania, Finland and Sweden, as well as a credit card in Finland. The proposed acquisition would therefore give Payward an existing banking platform and product base, rather than requiring it to build those capabilities from the ground up.
Kraken’s move beyond crypto trading
The agreement is part of Kraken’s effort to broaden the services available through its platform. The exchange has been moving toward a model that allows customers to trade stocks, bonds and other assets, presenting its application as a “primary account for everything.”
Payward co-CEO Arjun Sethi said a regulated European bank would allow the company to provide one place for clients to hold assets, transfer funds and use financial services. The company said it is beginning with the European Union while maintaining a global ambition.
Payward said it already has a limited-purpose master account with the U.S. Federal Reserve and an e-money license from the Central Bank of Ireland. It also said it has originated more than $2 billion in loans, although the source material did not specify the timing or composition of that figure.
The planned purchase follows Payward’s announcement earlier this week that it intends to launch in the United Arab Emirates after receiving full approval from Dubai’s Virtual Asset Regulatory Authority. Bloomberg reported in September that Nasdaq was investing $100 million in Payward at a $21 billion valuation, citing people familiar with the matter. Payward and SoFi Technologies have also agreed to route SoFi customers’ crypto orders through Kraken Prime, Payward’s prime-brokerage arm.
Current market picture
Moneyiar market data at 21:44 on October 15, 2026, showed Bitcoin at $82,204.64, up 0.57% over 24 hours and 0.71% over seven days. Lido DAO was $0.4070, up 1.87% in 24 hours but down 0.18% over seven days. Compound traded at $22.3973, down 1.13% and 3.92% over those periods, respectively. Aethir stood at $0.005955, down 0.47% over 24 hours and 6.20% over seven days.
