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Payward to acquire Saldo Bank, expanding Kraken's reach into European banking
Payward, the parent company of the cryptocurrency exchange Kraken, has signed a definitive agreement to acquire Saldo Finance Oy, a Finnish holding company that owns Saldo Bank UAB. This acquisition is considered a landmark event, as it would mark the first time a digital asset conglomerate has purchased a fully regulated commercial bank in Europe.
Saldo Bank is a digital-first specialized bank licensed in Lithuania and supervised by the Bank of Lithuania. It currently operates in Lithuania, Finland, Sweden, and Germany, and holds passporting rights to operate in the Netherlands. The deal is expected to close in 2027, pending regulatory approvals.
Through this acquisition, Payward aims to expand its financial infrastructure by offering traditional banking services alongside its existing cryptocurrency offerings. These services include interest-bearing deposits, consumer and commercial lending, credit cards, and SEPA instant settlements in euros. Payward Co-CEO Arjun Sethi stated that the goal is to serve European clients as a primary financial institution, allowing them to hold, move, and manage assets within a single integrated platform.
Entities
Arjun Sethi · Arkham Intelligence · Bank of Lithuania · Bitcoin · CryptoQuant · European Central Bank · Kraken · Lookonchain · Payward · Saldo Bank · Saldo Finance Oy
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 4 SOURCES] An unidentified wallet moved 4,582 BTC, valued at approximately $378 million. nosmokesport.com · journalducoin.com · www.cryptopolitan.com
- [○ 1 SOURCE] Four of the five recipient wallets received exactly 1,000 BTC each. nosmokesport.com
- [● 2 SOURCES] The funds were originally received in the wallet on March 3, 2020. nosmokesport.com · journalducoin.com
- [○ 1 SOURCE] Lookonchain reported the transfer of approximately 4,582 BTC. journalducoin.com
- [○ 1 SOURCE] On-chain data from Arkham Intelligence tracked the movement of the Bitcoin funds. nosmokesport.com
- [● 2 SOURCES] The transferred Bitcoin was split among five new recipient addresses. nosmokesport.com · journalducoin.com
- [○ 1 SOURCE] Bitcoin was trading at approximately $82,702 at the time of the report.
- [● 3 SOURCES] No sale of the moved Bitcoin has been confirmed. nosmokesport.com · journalducoin.com