Payward signs definitive agreement to acquire Saldo Finance Oy, gaining EU banking licence through Lithuanian Saldo Bank
Kraken parent Payward agreed to buy Finnish holding company Saldo Finance Oy, owner of Lithuania-licensed Saldo Bank, for an undisclosed sum with closing expected in 2027 pending regulatory approval.
Why it matters
The deal would give a major crypto exchange group a fully regulated EU banking licence, allowing it to offer interest-bearing deposits, loans and payment services directly to European customers without relying on third-party banking partners. It also marks the first acquisition of a European bank by a cryptocurrency company.
Where the sources disagree
Number of European markets Saldo Bank operates in
four operating markets (Lithuania, Finland, Sweden, Germany) plus Netherlands passport
Crypto.News, Cointelegraph, Bitcoin.com News, Bitcoin Magazine, CryptoSlate, Crypto News (CryptoNews.net), Crypto News (CryptoNews.net), Unchained
five European markets
Crypto.News, Bitcoin.com News
Most sources cite four operating markets (Lithuania, Finland, Sweden, Germany) plus Netherlands passport, while Crypto.News and Bitcoin.com refer to a five-market footprint
Figures that do not reconcile
Found by comparing the numbers in the reports automatically. They are differences, not yet confirmed to be about the same thing.
reported value (bank saldo)
$180 million
CoinDesk
€163 million
CryptoSlate
CoinDesk reports $180 million, CryptoSlate reports €163 million (9% apart).
Key facts
Payward signed a definitive agreement on October 14, 2026 to acquire Saldo Finance Oy, the Finnish holding company that owns Saldo Bank UAB
Reported by Crypto.News
The acquisition is expected to close in 2027 pending regulatory approvals and customary closing conditions
Reported by Decrypt
Saldo Bank UAB holds a specialised banking licence from the Bank of Lithuania effective from October 26, 2021
Reported by Bitcoin Insider
Saldo Bank operates in Lithuania, Finland, Sweden and Germany with a passport into the Netherlands
Reported by Crypto.News
The acquisition would make Payward the first cryptocurrency company to buy a European bank
Reported by Decrypt
Payward co-CEO Arjun Sethi said a regulated EU bank lets the firm serve European clients as a primary financial institution with one place to hold assets, move them freely, and put them to work
Reported by Decrypt
What happened
Payward, the parent company of crypto exchange Kraken, announced on October 14 a definitive agreement to acquire Saldo Finance Oy, a Finnish holding company whose subsidiary Saldo Bank UAB holds a specialised banking licence from the Bank of Lithuania effective since October 2021. The acquisition would give Payward a European Union banking licence and access to Saldo Bank's operations in Lithuania, Finland, Sweden and Germany, with a passport into the Netherlands. Multiple outlets report the deal would make Payward the first cryptocurrency company to buy a European bank. Financial terms were not disclosed. The transaction is subject to regulatory approvals and customary closing conditions, with an expected closing in 2027. Payward co-CEO Arjun Sethi said the bank licence enables the firm to serve European clients as a primary financial institution offering deposits, lending, card issuance and SEPA payments.
How the story developed
- Official statement
Payward announces definitive agreement to acquire Saldo Finance Oy
Official announcement confirms deal to acquire Finnish holding company owning Lithuania-licensed Saldo Bank UAB
- First report
First report by Decrypt
Kraken Owner Payward to Buy Lithuania's Saldo Bank in EU Push
- Update
First report: Financial Times breaks news of Payward acquiring Saldo Bank
Decrypt aggregates Financial Times report on Payward's acquisition of Lithuania-based Saldo Bank
- Independent corroboration
Independently corroborated by Crypto.News
Kraken parent Payward signs deal to buy European bank
- Update
Multiple independent crypto outlets corroborate the acquisition details
CoinDesk, Cointelegraph, CryptoSlate, Bitcoin Magazine and Unchained publish independent reports with additional financial details
- Official statement
Official statement from Bitcoin.com News
Kraken’s Parent Company Moves to Acquire a Bank in Europe
- Update
Unchained publishes detailed breakdown of Saldo Bank's product offerings and infrastructure
Reports on Saldo's term deposits, consumer loans, business loans, credit card in Finland, and lending infrastructure for fintech partners
How coverage built up
Independent sources over time, counted the way the consensus panel counts them: a republication of a wire story does not move the line.
- 14 Oct 2026, 10:21 UTC: Decrypt — 1 independent source, 1 reports
- 14 Oct 2026, 10:23 UTC: Bitcoin Insider — 2 independent sources, 2 reports
- 14 Oct 2026, 10:54 UTC: Crypto.News — 3 independent sources, 3 reports
- 14 Oct 2026, 12:26 UTC: Cointelegraph — 4 independent sources, 4 reports
- 14 Oct 2026, 16:20 UTC: Bitcoin.com News, official — 5 independent sources, 6 reports
- 14 Oct 2026, 16:30 UTC: Bitcoin Magazine — 6 independent sources, 7 reports
- 14 Oct 2026, 19:50 UTC: CryptoSlate — 7 independent sources, 8 reports
- 15 Oct 2026, 11:01 UTC: Unchained — 8 independent sources, 12 reports
Affected entities
Also mentioned: United Arab Emirates, Bitcoin, European Central Bank, Jerome Powell, Litecoin, Coinbase, JPMorgan
Original sources
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