Kraken moves to acquire $181 million European bank in major push beyond crypto trading
Kraken parent company Payward has agreed to acquire Saldo Finance Oy, the owner of Saldo Bank, in a $181 million deal to expand into traditional European banking services.
Payward, the parent company of cryptocurrency exchange Kraken, has reached a definitive agreement to acquire a European bank, marking a significant expansion beyond crypto trading into traditional financial services. Announced on Oct. 14, the deal involves purchasing Saldo Finance Oy, a Finnish holding company that owns the Lithuania-based Saldo Bank. Through this acquisition, Payward will secure control of a licensed European banking institution.
Frequently Asked Questions
- Which company is acquiring the European bank? Kraken’s parent company, Payward, is making the acquisition.
- What is the name of the bank being acquired? Payward is acquiring Saldo Finance Oy, a Finnish holding company that owns Lithuania-based Saldo Bank, in a deal valued at $181 million.
- When was the agreement announced? The definitive agreement was announced on Oct. 14.
