Payward’s Strategic Acquisition of Saldo Bank for EU Banking License
- Payward has agreed to acquire Saldo Finance Oy, the Finnish parent of Saldo Bank UAB, aiming for a European Union specialized banking license.
- Saldo Bank operates in Lithuania, Finland, Sweden, and Germany, with plans to expand into the Netherlands.
- The acquisition is expected to close in 2027, pending regulatory approval.
- By the end of 2025, Saldo reported approximately €163 million in assets and €137 million in retail deposits.
- Kraken’s parent company aims to integrate traditional banking services with its existing cryptocurrency infrastructure.
Payward’s acquisition of Saldo Finance Oy marks a significant move towards obtaining an EU banking license, expanding its services beyond cryptocurrency trading into conventional financial services. This strategic step will allow Payward to offer a broader range of financial products across Europe.
With operations already spanning multiple European markets and plans for further expansion, Payward is set to enhance its financial machinery by integrating traditional banking elements such as interest-bearing deposits and consumer credit under its umbrella.
