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Payward, the parent company of the major cryptocurrency exchange Kraken, has reached an agreement to acquire Saldo Finance Oy, the parent entity of a specialized bank based in Lithuania. Although the financial details and specific terms of the deal remain undisclosed, the transaction is officially expected to close by the year 2027, subject to regulatory approvals.
This acquisition reflects a broader trend among leading digital asset companies seeking specialized banking licenses to bridge traditional finance with the crypto ecosystem. Securing a European specialized banking license through Saldo will allow Payward to expand its infrastructure, offering direct fiat-to-crypto banking services, improved payment clearing, and enhanced regulatory compliance across European jurisdictions.
For the broader fintech and crypto industry, the deal underscores the strategic imperative of direct banking access to minimize operational dependence on third-party financial institutions. Investors should track regulatory review progress leading up to 2027 to assess how Payward integrates institutional banking services into Kraken's core platform offerings.
