Kraken Parent Payward to Buy Lithuania's Saldo Bank
Payward, the company behind Kraken, plans to acquire Lithuania's Saldo Bank, with the deal expected to close in 2027. The acquisition would help Payward expand traditional banking services into four EU markets where Saldo already operates, as it works toward offering cash, crypto, tokenized stocks and credit in one place.
Key takeaways
- Payward, Kraken's parent company, plans to acquire Lithuania's Saldo Bank.
- The acquisition is expected to close in 2027.
- Saldo Bank already operates in four EU markets.
- Payward co-CEO Arjun Sethi said the company plans to start with lending and cards.
Payward, the parent company of crypto exchange Kraken, plans to buy Lithuania's Saldo Bank as it expands into traditional banking in Europe. The deal is expected to close in 2027, according to CoinTelegraph.
Payward co-CEO Arjun Sethi said customers want cash, crypto, tokenized stocks and credit together. The company says it will begin by focusing on lending and cards.
What Saldo Bank brings to Payward's EU strategy
The acquisition would give Payward a route to expand banking services in four EU markets where Saldo Bank already operates. The available reports do not name those markets or disclose the purchase price, so the scale and exact reach of the deal remain unclear.
For customers, the stated plan points toward familiar financial services—such as borrowing and payment cards—alongside crypto. It does not mean those products are available now: closing is expected in 2027, and the reports provide no launch dates or product terms.
How the acquisition fits Payward's broader push into banking
The proposed purchase follows Payward's moves to build financial services around Kraken, rather than relying only on crypto trading. The company has also pursued a banking license in Lithuania, while recent reporting has described efforts to expand its payments and institutional infrastructure. Saldo is a more direct route into existing banking operations than building every service from scratch, though the reports do not explain how the acquisition relates to the license application.
For users, the practical test will be what Payward can offer after the deal closes: which countries get cards and lending, how those products connect to Kraken accounts, and what local rules allow. Until then, this is a planned acquisition—not a change to customers' banking access today.
Frequently asked questions
Who is buying Saldo Bank?
Payward, the company behind crypto exchange Kraken, plans to acquire Lithuania's Saldo Bank.
When is Payward's Saldo Bank acquisition expected to close?
The deal is expected to close in 2027. The reports do not provide a specific closing date.
What services does Payward plan to offer?
Payward co-CEO Arjun Sethi said customers want cash, crypto, tokenized stocks and credit in one place. The company plans to start with lending and cards.