The deal adds to a series of investments in US payments, stablecoin infrastructure and financial services as the company seeks to reduce reliance on external banks.

Kraken's parent company, Payward, has agreed to acquire a European bank as it expands beyond cryptocurrency trading into traditional financial services.

On Oct. 14, the company announced a definitive agreement to purchase Saldo Finance Oy, a Finnish holding company that owns Lithuania-based Saldo Bank.

The acquisition would give Payward control of a licensed European banking institution with approximately €163 million ($181 million) in assets, offering deposits, lending and payment services across multiple markets.

The transaction, whose financial terms were not disclosed, is expected to close in 2027, subject to regulatory approval.

It marks another step in Payward's effort to build a financial services platform that can handle traditional money and digital assets while reducing its dependence on external banking partners.

Saldo Bank is an established but relatively small European financial institution whose operations have expanded considerably in recent years.

According to its 2025 audited financial statements, the bank held €162.9 million in assets at the end of December, up about 22% from €133.6 million a year earlier.

Its net loan portfolio increased to €113.5 million from €95.4 million, while retail deposits climbed 24% to €136.9 million.

4 million loss the previous year. 4 million, though credit impairment charges absorbed most of it.

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