Payward, the parent company of crypto exchange Kraken, has signed a definitive agreement to acquire Saldo Bank, gaining an EU banking license and a footprint across five European markets.

Payward is buying Saldo Finance Oy, a Finnish holding company whose subsidiary, Saldo Bank UAB, is a digital-first specialized bank licensed in Lithuania. The bank operates in Lithuania, Finland, Sweden and Germany, with a passport into the Netherlands. 

Payward did not reveal the financial terms of the deal, which is expected to close in 2027, subject to regulatory approvals.

It comes as Kraken, like other crypto exchanges, pushes further into the traditional finance world, allowing users…

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