Kraken Parent Payward to Acquire EU-Based Saldo Bank in Landmark Crypto Deal

Privately held cryptocurrency firm Payward, the parent company of crypto exchange Kraken, has agreed to acquire Lithuania-based Saldo Bank for an undisclosed sum. The purchase makes Payward the first crypto firm to buy a bank within the European Union.

The acquisition allows Payward to broaden its scope beyond cryptocurrency trading into traditional financial services. Saldo Bank holds licenses in Lithuania, Finland, Sweden, and Germany, providing services such as deposits, loans, and payments. By acquiring the institution, Payward plans to offer European clients interest-bearing deposit accounts, loans, card services, and payment facilities. Saldo Bank reported total assets of 163.9 million euros ($180 million U.S.) at the end of 2025, reflecting a 23% increase from the prior year. While small compared to major European institutions like Deutsche Bank Aktiengesellschaft (NYSE:DB), which manages nearly $2 trillion U.S. in assets, Saldo Bank provides Payward an established banking foothold in the region.

The transaction requires regulatory approvals and is projected to close in 2027. Outside of Europe, Payward is pursuing a banking license in Lithuania and has submitted an application for a national trust bank charter in the United States. Neither Payward nor Saldo Bank trades on a public stock exchange.