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Kraken parent buys Saldo: EU banking license in hand, pending approvalAn exchange buying a bank has finally moved from rumor to a signed agreement.
Kraken parent company Payward announced today via Business Wire that it has signed a definitive agreement to acquire Finnish holding company Saldo Finance Oy. Its Lithuanian subsidiary, Saldo Bank UAB, is a specialized bank licensed by the ECB and regulated by the Bank of Lithuania. It operates in Lithuania, Finland, Sweden, and Germany, and holds a Dutch passport.
What they’re getting isn’t just a license for show—it’s an EU banking entity that can take interest-bearing deposits, lend, issue cards, and make SEPA payments. Payward Banking says it has already lent more than $2B, and also holds a Federal Reserve limited-purpose master account and an EMI license from the Central Bank of Ireland. Adding this EU banking license makes the “live, transfer, and earn interest” experience in Europe more complete.
Kraken parent buys Saldo: EU banking license in hand, pending approval
An exchange buying a bank has finally moved from rumor to a signed agreement.
Kraken parent company Payward announced today via Business Wire that it has signed a definitive agreement to acquire Finnish holding company Saldo Finance Oy. Its Lithuanian subsidiary, Saldo Bank UAB, is a specialized bank licensed by the ECB and regulated by the Bank of Lithuania. It operates in Lithuania, Finland, Sweden, and Germany, and holds a Dutch passport.
What they’re getting isn’t just a license for show—it’s an EU banking entity that can take interest-bearing deposits, lend, issue cards, and make SEPA payments. Payward Banking says it has already lent more than $2B, and also holds a Federal Reserve limited-purpose master account and an EMI license from the Central Bank of Ireland. Adding this EU banking license makes the “live, transfer, and earn interest” experience in Europe more complete.
Kraken parent company Payward announced today via Business Wire that it has signed a definitive agreement to acquire Finnish holding company Saldo Finance Oy. Its Lithuanian subsidiary, Saldo Bank UAB, is a specialized bank licensed by the ECB and regulated by the Bank of Lithuania. It operates in Lithuania, Finland, Sweden, and Germany, and holds a Dutch passport.
What they’re getting isn’t just a license for show—it’s an EU banking entity that can take interest-bearing deposits, lend, issue cards, and make SEPA payments. Payward Banking says it has already lent more than $2B, and also holds a Federal Reserve limited-purpose master account and an EMI license from the Central Bank of Ireland. Adding this EU banking license makes the “live, transfer, and earn interest” experience in Europe more complete.
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