Payward Expands Banking Reach by Acquiring Finland’s Saldo
What's happening
Payward, the parent company of crypto exchange Kraken, announced on Oct. 14 that it is acquiring Finland-based Saldo Bank as part of its Payward Banking initiative, which the company calls the "money layer" of its financial infrastructure platform. The purchase of Saldo Bank is described as enabling Payward to expand banking efforts in Europe, including the ability to offer deposits and lending products. Reports note that buying Saldo would give Payward an upgrade from its current Ireland-issued electronic money institution license, and terms of the deal were not disclosed.
Why it's trending
This is rising now because Payward just announced the Saldo Bank acquisition (Oct. 14), positioning Kraken's parent to move from an EMI license toward full European banking capabilities.
SignalNewly emerging, confirmed across 1 independent source type.
Story volume
Stories per dayAngles you could write
Kraken's parent just bought Finland's Saldo Bank, here is exactly what that could change for European users today and why the deal matters for deposits and loans.
+2 more angles for this topic with an account — all it takes is your email.
Original sources4
- Kraken’s Payward begins groundwork on banking expansion
This week on Blockchain Bulletin, Payward, parent company of Kraken, has acquired a European bank to kickstart its banking plans in the region. Also this week, a Bank of England Governor confirms interoperable plans for multiple digital currencies, Standard Chartered opens new RLUSD custody access, a new euro stablecoin edges one step closer to issuance, […]
Payment ExpertOct 15 - Kraken parent eyes EU license with bank acquisition
Buying Lithuania-based Saldo Bank would give Payward an upgrade from the Ireland-issued electronic money institutions license it now carries. Terms of the deal were not disclosed.
Banking DiveOct 14 - Kraken parent to buy European bank Saldo
The parent of crypto exchange Kraken has struck a deal to buy Finland-based Saldo Bank in a move that would enable the firm to offer deposits and lending products in Europe.
FinextraOct 14 - Payward Expands Banking Reach by Acquiring Finland’s Saldo
Kraken parent company Payward is expanding its banking efforts by acquiring Finland-based Saldo Bank. Payward says the deal, announced Wednesday (Oct. 14), marks the next step in the development of Payward Banking, which it calls the “money layer” of the company’s financial infrastructure platform. “Payward Banking is not a new ambition — it is a […] The post Payward Expands Banking Reach by
PYMNTSOct 14
More rising in Fintech
- Visa Receives Approval to Begin Preparations for a Domestic Business in ChinaClimbing3.3Climbing3.3 momentum
- US Fines Bank of America $1.2 Billion, Alleging AML and Sanctions ViolationsClimbing2.8Climbing2.8 momentum
- Digital Payment Today - Boosting Stablecoin Efficiency Beyond US Dollar TransactionsSteady1.2Steady1.2 momentum
- FIS Launches AI Banking Agent As Fintech Compliance Faces A Trust TestSteady1.1Steady1.1 momentum
- JPMorgan CEO Dimon warns customers of ‘liability transfer’ with AISteady0.8Steady0.8 momentum
- Nearly 9 in 10 Card Issuers Turn to AI to Stop Fraud Without Blocking SalesSteady0.5Steady0.5 momentum