Story perspectives

Payward to buy Saldo Bank for 2027 crypto lending

By Drooid · Oct 14, 2026, 2:54 PM UTC · How we work

Summary

Payward Acquires Saldo

Payward, Kraken’s parent, is buying Lithuania’s Saldo Bank, the first crypto firm to own a European bank.
Due-diligence started Oct 2026, targeting a 2027 close pending Lithuanian regulator approval.
Saldo Bank has a specialised licence since 26 Oct 2021 for deposits, payments and e-money.
Co-CEO Arjun Sethi says customers will borrow against crypto assets without selling them.
Payward plans to launch lending and card-issuance services using Saldo Bank’s licence.

Summary

Nasdaq Invests $100M

Nasdaq invested $100 million in Payward and will continue partnership on equity-token and market-surveillance projects.
Payward Banking holds a Federal Reserve limited-purpose master account and an Irish EMI licence.
Payward runs Kraken, NinjaTrader, Breakout, xStocks and CF Benchmarks on a single unified infrastructure.
Saldo Bank employed over 90 staff across Lithuania, Finland, Sweden and Germany in September 2026.
Co-CEO Arjun Sethi says the acquisition expands Payward’s “money layer” to serve European clients.

History

Historical Context

In 2018, SEBA Bank became Europe’s first licensed crypto-focused bank, raising €150 million from investors such as Swisscom and Credit Suisse. The move foreshadowed a broader fintech trend, seen when UK challenger Zopa secured a full banking licence in 2020. Now Kraken’s parent plans to buy Lithuania’s Saldo Bank, a SEB Group subsidiary, prompting regulators to confront a blended “money layer” of digital assets and banking.

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Payward Acquires Saldo

Payward, Kraken’s parent, is buying Lithuania’s Saldo Bank, the first crypto firm to own a European bank.
Due-diligence started Oct 2026, targeting a 2027 close pending Lithuanian regulator approval.
Saldo Bank has a specialised licence since 26 Oct 2021 for deposits, payments and e-money.
Co-CEO Arjun Sethi says customers will borrow against crypto assets without selling them.
Payward plans to launch lending and card-issuance services using Saldo Bank’s licence.

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