Current outcome
Payward has agreed to acquire Saldo Bank to obtain an EU banking license, pending regulatory approval, expected to close in 2027.
Progress timeline
8 material updates- #01
Kraken parent Payward explores becoming full bank outside US
Source evidence: The Block
- #02
Payward expands Kraken with $2B acquisition push - Crypto News
Payward, the parent company of Kraken, is advancing an expansion strategy anchored by roughly $2B in acquisitions to grow the exchange's business.
Source evidence: Crypto News
- #03
Crypto exchange Kraken owner to buy European bank
Payward agreed to acquire Lithuania-based Saldo Bank for an undisclosed amount, securing an EU banking license, subject to regulatory approval and expected to close in 2027.
State after update: Payward has agreed to acquire Saldo Bank to obtain an EU banking license, pending regulatory approval, expected to close in 2027.
Source evidence: Financial Times
- #04
⚡️Kraken拟收购受欧盟监管的Saldo银行
Kraken is reportedly set to acquire EU-regulated Saldo bank, with the transaction expected to complete in 2027.
Source evidence: theblockbeats
- #05
【Kraken 母公司 Payward 计划收购欧洲银行 Saldo Bank】
Payward plans to acquire European bank Saldo Bank, which obtained an EU banking license in 2021, with the deal expected to close in 2027.
State after update: Payward is advancing an expansion strategy anchored by roughly $2B in acquisitions; the latest development is a planned acquisition of European bank Saldo Bank, expected to close in 2027.
Source evidence: foresightnews
- #06
Kraken Parent Payward to Acquire EU-Regulated Lithuanian Bank Saldo
Kraken parent Payward announced plans to acquire EU-regulated Lithuanian bank Saldo to expand into traditional banking services like lending and card issuance, with the deal expected to close in 2027 pending regulatory approval.
Source evidence: wublockchainenglish · Decrypt
- #07
Kraken parent to buy Lithuanian Saldo Bank amid TradFi expansion
Payward signed a definitive agreement to acquire Lithuania-licensed Saldo Bank (via Finnish holding company Saldo Finance Oy and subsidiary Saldo Bank UAB), expected to close in 2027 subject to regulatory approvals; the deal would expand banking services into Lithuania, Finland, Sweden, Germany and the Netherlands.
State after update: Payward has signed a definitive agreement to acquire Lithuania-based Saldo Bank, expected to close in 2027 subject to regulatory approvals; the deal would give it an EU banking license and expand traditional banking services.
Source evidence: Cointelegraph
- #08
Kraken parent Payward to become first crypto firm to buy a EU bank as it expands into deposits, lending
CoinDesk adds that the deal is reportedly the first acquisition of a European bank by a crypto company according to the Financial Times; Saldo Bank had €163.9 million ($180 million) in total assets at end-2025; Payward plans to offer interest-bearing deposits, loans, card services and euro payments; its banking business has originated over $2 billion in loans and holds a Federal Reserve limited-purpose master account and an Irish electronic money institution license.
State after update: Payward has signed a definitive agreement to acquire Lithuania-based Saldo Bank, expected to close in 2027 subject to regulatory approval; the deal would provide an EU banking license and expand into traditional banking services including interest-bearing deposits, loans, cards and euro payments, and is reportedly the first acquisition of a European bank by a crypto company.
Source evidence: CoinDesk