Payward Agrees to Buy Lithuanian Bank for European Expansion

Payward, the parent company of crypto exchange Kraken, agreed to acquire a holding company with a Lithuanian-licensed bank, a move that could expand its European services to include deposits and lending after regulatory approval. The agreement, signed Oct. 14, covers Finnish holding company Saldo Finance Oy and its subsidiary Saldo Bank. Payward expects the transaction to close in 2027, subject to regulatory approval and other closing conditions. Financial terms were not disclosed. After closing and approval, the acquisition is expected to enable interest-bearing deposits, lending products and card services for European customers.