AI · CryptoSlate
Kraken moves to acquire $181 million European bank in major push beyond crypto trading
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Kraken's parent company, Payward, has agreed to acquire a European bank as it expands beyond cryptocurrency trading into traditional financial services.
Key facts
- Its net loan portfolio increased to €113.5 million from €95.4 million, while retail deposits climbed 24% to €136.9 million
- The bank also reported its first annual profit of approximately €962,000 in 2025, reversing a €2.4 million loss the previous year
- On Oct. 14, the company announced a definitive agreement to purchase Saldo Finance Oy, a Finnish holding company that owns Lithuania-based Saldo Bank
- 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
Summary
01 Kraken parent Payward agreed to acquire Lithuania-based Saldo Bank, which held €163 million in assets at the end of 2025. 02 The deal would add €137 million in deposits and a €113.5 million loan book, deepening Payward's expansion beyond crypto trading. 03 The purchase price remains undisclosed, while European regulatory approval is required before the targeted 2027 closing. On Oct. 14, the company announced a definitive agreement to purchase Saldo Finance Oy, a Finnish holding company that owns Lithuania-based Saldo Bank.