Payward, the parent company of crypto exchange Kraken, plans to acquire Lithuania-based Saldo Bank, with the deal expected to close in 2027. The acquisition is intended to extend traditional banking services into four EU operating markets already served by Saldo Bank.
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Payward, the parent company of crypto exchange Kraken, has announced plans to acquire Lithuania-based Saldo Bank. Cointelegraph reported on Oct. 14, 2026, that Payward expects the acquisition to close in 2027. The stated aim is to expand traditional banking services into four EU operating markets already served by Saldo Bank. The provided summary did not include purchase price, financing terms, or the names of the four markets.
Buying an established bank can give a crypto-focused parent company access to banking permissions, deposit and payment infrastructure, and existing regulatory relationships. Saldo Bank already operates in four EU markets, so Payward would not need to build a local presence from scratch in those jurisdictions. In Europe, a bank licensed in one member state can often serve clients in other member states under cross-border frameworks, though the exact scope depends on the license and local rules. For Payward, the move would add a regulated banking layer alongside Kraken's exchange business.
The expected 2027 closing date indicates that the transaction is not immediate and may involve a multi-stage approval process. Bank acquisitions in the EU are generally subject to supervisory review by national and European authorities, which can include assessments of ownership, capital, and governance. Because Saldo Bank is Lithuania-based, Lithuanian regulators would likely play a central role in reviewing the change of control. Payward has not disclosed a more detailed schedule beyond the 2027 target.
Payward's planned purchase reflects a broader trend of crypto companies seeking regulated financial infrastructure rather than relying only on crypto-native services. By bringing a bank under its corporate umbrella, Payward could offer conventional banking products to customers in the four markets where Saldo already operates. That could place crypto exchange services and traditional banking within the same corporate group. The deal's eventual impact will depend on regulatory approvals and how Payward integrates Saldo Bank after closing.
Payward, the parent company of Kraken, announced plans to acquire Lithuania-based Saldo Bank. The company expects the acquisition to close in 2027. The deal is intended to expand its traditional banking services into four EU operating markets already served by Saldo Bank.
Acquiring an existing bank is a way to gain banking permissions and local market access more quickly than building them from scratch. Saldo Bank already operates in four EU markets, giving Payward an established base for traditional banking services. The move would add a regulated bank to Payward's broader crypto exchange business.
The provided information says Payward expects to close the acquisition in 2027. That timeline suggests the deal will go through regulatory review and other closing conditions before completion. No more detailed schedule was included in the source summary.
The source summary states that Saldo Bank already serves four EU operating markets, but it does not identify the specific countries. Those markets are the ones Payward aims to use for expanding its traditional banking services. Without additional disclosure, the exact national footprints remain unspecified.
Payward's Plan to Acquire Saldo Bank
Why a Bank Acquisition Matters for EU Expansion
Regulatory Review and the 2027 Closing Timeline
Crypto Firms' Broader Move Into Traditional Finance
This article is rewritten from public news sources and further processed by AI. It is provided for information only and does not constitute investment advice — refer to the original source for the authoritative version.
The transaction would place a bank, Saldo Bank, under Payward, Kraken's parent company, rather than necessarily changing Kraken's exchange operations. Payward's stated goal is to expand traditional banking services into four EU markets already served by Saldo. The extent of integration between Kraken and Saldo Bank will depend on post-closing plans and regulatory requirements.
Cross-border bank acquisitions in the EU typically require review by relevant national and European supervisory authorities. Because Saldo Bank is Lithuanian, Lithuanian regulators would likely be involved in assessing the change of control. The 2027 target closing date suggests Payward anticipates a lengthy approval process.
