Payward buys EU digital bank for expansion

TLDR

Payward, the parent of crypto exchange Kraken, has agreed to buy Lithuanian digital bank Saldo Bank to secure an EU banking license and expand into traditional finance.

1. Payward will acquire Saldo Finance Oy, owner of Saldo Bank, in a deal that could make it the first crypto firm to purchase a European bank, with closing targeted for 2027.
2. The Saldo Bank license would let Payward offer EU clients deposits, loans, card services and euro payments alongside Krakens crypto trading, aiming for one platform for cash, crypto and tokenized assets.
3. The impact for users depends on regulatory approval and product rollout, so the key next signals are supervisory decisions from EU regulators and concrete announcements of new services by country.

Deep Dive

1. Deal Structure And Status

Multiple reports say Payward has signed a definitive agreement to acquire Saldo Finance Oy, whose subsidiary Saldo Bank UAB is a Lithuania-licensed digital bank, with terms undisclosed and closing expected in 2027 subject to regulatory approval. This would give Payward a full EU banking license via Saldos specialized bank authorization and footprint across Lithuania, Finland, Sweden and Germany, plus passporting into the Netherlands. CoinDesk notes that the acquisition would make Payward the first crypto company to buy a European bank, highlighting how digital asset firms are moving into regulated banking rather than staying at the edge of the system.

Saldo is relatively small, with around 163.9 million in assets at end?2025 according to reports such as CryptoSlate, but its license and existing operations are strategically valuable for Paywards plans.

Confidence: high, based on consistent coverage from major crypto and finance outlets.

2. New Services And Strategy

Payward describes the move as part of a long-running license by license, market by market infrastructure strategy, adding a regulated EU bank to its existing Irish electronic money license and US banking relationships. Saldo already offers term deposits, consumer and SME loans, payment cards and banking-as-a-service capabilities, which Payward plans to pair with Krakens crypto trading and custody so customers can hold euros, crypto and potentially tokenized stocks in one system, then borrow or lend against those assets without selling them.

Cointelegraph and CoinsKid community coverage say Payward wants to provide interest-bearing deposits, card issuance, lending and banking-as-a-service for fintech partners, effectively turning Krakens parent from a pure exchange operator into a broader financial institution for European clients.

3. Risks And What To Watch

The transaction still faces approval from the European Central Bank and the Bank of Lithuania, which will assess Paywards financial strength, governance and compliance with prudential and antimoney laundering rules. Owning a bank does not automatically authorize every planned product, and national rules will shape where and how new services launch.

For crypto users, the main things to watch are: (1) formal regulatory approval or conditions attached to the acquisition, (2) announcements specifying which markets get deposits, lending and cards first, and (3) how Payward handles risk management and segregation of bank and exchange activities, especially under EU and emerging US rules.

Conclusion

Paywards planned purchase of Saldo Bank is a landmark step that could turn Krakens parent into a regulated EU banking provider, combining traditional deposits and lending with crypto trading on one platform. If regulatory approval and integration go smoothly, European crypto users may gain more seamless fiat access and credit options anchored in a licensed bank rather than third-party rails. Until then, this is a significant strategic signal rather than an immediate change, and the decisive milestones will be supervisory decisions and detailed service rollouts.