Payward to Acquire Saldo Bank for Traditional Financial Services Expansion
- Payward, Kraken’s parent company, signed a definitive agreement to acquire Saldo Finance Oy, which includes the digital bank Saldo Bank UAB, licensed in Lithuania.
- The acquisition will allow Payward to operate in four markets—Lithuania, Finland, Sweden, and Germany—and expand its services.
- Saldo Bank’s EU banking license enables Payward to offer traditional banking services such as interest on deposits and lending products.
- The deal is expected to close in 2027 pending regulatory approvals.
- In August, Payward launched a multi-asset debit card in the US through Kraken’s payment app, allowing users to earn up to 2% cashback.
This acquisition marks a significant step for Payward as it aims to integrate traditional financial services with its existing cryptocurrency offerings. The move will enhance its ability to serve European clients more effectively by providing comprehensive banking solutions.
With the acquisition of Saldo Bank expected to close in **2027**, Payward is positioning itself to offer a range of banking services across multiple European markets.(Source)
