Kraken's parent company Payward to acquire Saldo Bank for European expansion

Payward, the parent company of crypto exchange Kraken, signed an agreement to acquire Saldo Finance Oy, gaining an EU banking license and a presence across five European markets: Lithuania, Finland, Sweden, Germany, and a passport into the Netherlands. The deal is expected to close in 2027, subject to regulatory approvals. Post-acquisition, Payward Banking aims to offer services including interest on deposits, SME and consumer loans, credit cards, and banking-as-a-service tools. This move supports Kraken's push into traditional finance, allowing it to serve European clients as a primary financial institution.