Kraken Operator Payward to Acquire Saldo Bank for EU Banking License

Payward signed a definitive agreement on Oct 14, 2026, to acquire Saldo Finance Oy, a Finnish holding company whose subsidiary, Saldo Bank UAB, is a digital-first specialized bank licensed in Lithuania. Saldo Bank operates across four markets and holds a passport into the Netherlands. It offers retail term deposits in Lithuania, Finland, Sweden, and Germany, along with consumer lending and SME lending in select markets.

Its credit card launched in Finland and is expected to reach Sweden in 2027. Saldo also runs embedded lending partnerships in Finland and Germany, providing lending infrastructure for other fintechs. The acquisition is expected to enable Payward Banking to offer deposit yields, lending products, and banking-as-a-service capabilities across Europe, subject to regulatory approvals.

Closing is expected in 2027.