Kraken's parent Payward acquires Lithuania-based Saldo Bank to gain EU banking license

Payward, the parent company of crypto exchange Kraken, agreed to acquire Lithuania-based Saldo Bank for an undisclosed amount, granting it a European Union (EU) banking license. This acquisition enables Payward to offer European customers interest-bearing deposits, loans, card services, and euro payments, expanding beyond cryptocurrency trading. Saldo Bank had 163.9 million euros ($180 million) in total assets at the end of 2025, a 22.7% increase from the previous year. The deal is subject to regulatory approval and is expected to close in 2027.