Payward Acquires Saldo to Expand Its Banking Business in the EU
Start here
AI-assisted source synthesis · not an independent investigation.
On October 14, 2026, PYMNTS reported that Kraken parent company Payward announced the acquisition of Finland-based Saldo Bank to advance Payward Banking’s banking business in Europe. The report said that Saldo serves customers in Lithuania, Finland, Sweden, and Germany, and holds a passport to operate in the Netherlands. The transaction is expected to support services including interest-bearing deposits, lending, card issuance, and lending for small and medium-sized enterprises. Later the same day, CoinDesk reported that Payward had agreed to acquire Lithuania-based Saldo Bank. The transaction value was not disclosed, and upon completion Payward will obtain an EU banking license, although regulatory approval is still required; completion is expected in 2027. Earlier reports identified the target as Finland-based Saldo Bank, while subsequent reports identified the target as Lithuania-based Saldo Bank and its Finnish holding company. On October 15, Banking Dive and Cryptopolitan further reported that Payward had agreed to or signed an agreement to acquire Saldo Bank and its Finnish holding company, Saldo Finance Oy, with plans to upgrade its existing Irish electronic money institution license and provide banking-as-a-service capabilities in Europe, including deposits, lending, SEPA euro payments, and card issuance.
AI-written from reports · updated 4 days ago
Timeline
Follow the reporting to see the different sides of the story.
- CryptopolitanSelectedPayward plans to acquire Saldo Bank to obtain an EU banking license
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.
- Banking DiveSelectedPayward agrees to acquire Lithuania’s Saldo Bank to obtain an EU banking license
Payward has agreed to acquire Lithuania’s Saldo Bank and its Finnish holding company, planning to use the deal to obtain an EU banking license and upgrade its existing Irish electronic money institution license. The transaction terms were not disclosed and the deal is expected to close in 2027. The transaction is expected to enable Payward to offer deposit interest, lending products, and banking-as-a-service capabilities in Europe, including card issuance and SME lending; Saldo Bank currently has passporting coverage in Lithuania, Finland, Sweden, Germany, and the Netherlands.
- CoinDeskSelectedKraken parent company Payward agrees to acquire Lithuania’s Saldo Bank, expanding its EU banking business
Kraken parent company Payward has agreed to acquire Lithuania’s Saldo Bank. The transaction value was not disclosed, and upon completion, Payward will obtain an EU banking license. The deal still requires regulatory approval and is expected to close in 2027; Payward will thereby be able to offer EU customers interest-bearing deposits, loans, bank card services and euro payments.
- PYMNTSSelectedPayward acquires Finland's Saldo Bank to expand its European banking business
Kraken parent company Payward announced the acquisition of Finland's Saldo Bank to advance Payward Banking's European banking business. Saldo serves customers in Lithuania, Finland, Sweden and Germany, and holds a passport to operate in the Netherlands; combined with Payward's infrastructure, the transaction is expected to support services including interest-bearing deposits, lending, passporting, card issuance and lending for SMEs.
Heat over time
Current heat 3·Peak over the comparable range 33 (Oct 15 07:00)·Change over the comparable range in the last 24 hours -85%
Trends compare only the same entities that were fully and continuously observed, so the range can be narrower than the current heat statistics. Move the pointer or tap the chart to read hourly heat; arrow keys work on a keyboard.