Parent Company of Crypto Exchange Kraken – Payward has agreed to buy Saldo Bank in a deal that would give it access to EU Banking Licence. The terms of the deal, which has to be approved by the authorities, are not public, and the transaction is expected to be completed in 2027.
The deal could represent a significant step for crypto companies in their efforts to build relationships with traditional banks. If the acquisition goes through, the Financial Times reports that Payward could become the first crypto company to purchase a bank in the European Union.
We’ve signed an agreement to acquire Saldo Bank, a licensed specialized bank in Lithuania operating across five European markets. An EU banking license meaningfully expands Payward Banking. Subject to closing conditions and regulatory approvals.
https://t.co/Y22B5lb8RK
— Payward (@Payward) October 14, 2026
Saldo Bank is an Estonian bank with a presence in several European countries. The company has licenses in Lithuania and uses the EU’s passporting system to provide its services in Finland, Sweden, Germany and the Netherlands.
The acquisition of the Estonian bank could enable Payward to significantly expand the financial services it offers to its clients. Saldo provides services such as interest-bearing deposits, loans, payment cards and euro payments. By acquiring the deposit-taking capacity of the Estonian bank, the crypto firm will be able to offer its clients a wider range of services, including the ability to switch between crypto and fiat currencies.
Cryptocurrency firms need banking services more than ever, as their customers look to move between their digital assets and traditional money. At the same time, firms like Payward also need to be able to offer their clients the ability to make payments and receive funds in a variety of ways. Having a bank of its own would give Payward greater control and flexibility over its services, although the extent to which it will use the services of the Estonian bank is not yet known.
Saldo Bank reported assets of $180 million at the end of 2025. The Estonian bank’s current status as a regulated financial service provider will be critical to any plans for the acquisition to be completed.
The deal also highlights the efforts made by digital-asset companies to go beyond offering trading services and become more integrated with the traditional financial system. Many companies are looking to offer their clients a wider range of services beyond crypto trading. These include making and receiving payments, as well as providing custody services for digital assets.
For now, however, the deal remains a proposed acquisition rather than a completed one. The impact of the deal depends on whether the authorities approve it, whether the transaction is completed, and what services Payward chooses to develop and offer to its clients after the acquisition.
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