Payward plans to acquire Saldo Bank to obtain an EU banking license
Kraken parent Payward agrees to buy Saldo Bank for an EU banking license
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Payward has signed an agreement to acquire Finnish holding company Saldo Finance Oy, which owns Saldo Bank UAB, to obtain an EU banking license. The transaction still requires regulatory approval and is expected to close in 2027; following the acquisition, it plans to offer deposits, lending and SEPA euro payments in five markets, while opening banking-as-a-service tools such as card issuance to fintech companies.
The acquisition links the parent company of a crypto trading platform’s entry into EU banking with its existing market coverage and plans for deposits, lending and SEPA payments in a single transaction, with regulatory approval as a prerequisite for completion.
Source:Cryptopolitan · cryptopolitan.com