CryptoMedium•14 October 2026•
1 min read
Kraken Parent Payward to Acquire Saldo Bank for EU Expansion
Key Facts
1Payward, the parent company of Kraken, agreed to buy Lithuania’s Saldo Bank, becoming the first crypto firm to acquire an EU bank.
2Saldo Bank holds $190 million in total assets, and the acquisition provides Payward with an EU license for deposits and lending.
Payward, the parent company of the Kraken cryptocurrency exchange, agreed to acquire Lithuania-based Saldo Bank. CoinDesk reported that the deal makes Payward the first crypto firm to acquire a bank in the European Union, marking a significant expansion into traditional financial services.
Saldo Bank holds $190 million in total assets, and the acquisition provides Payward with an EU license for deposits, lending, and euro payments. This strategic move follows Payward's existing regulatory footprint, which includes an electronic money institution license in Ireland and a limited-purpose master account with the U.S. Federal Reserve.