Payward Inc., the holding company behind cryptocurrency exchange Kraken, has signed a definitive agreement to acquire Saldo Bank, a Lithuania-based digital lender, in a deal that would make it the first crypto-native firm to own a regulated bank in the European Union.

The transaction, announced Wednesday, involves the purchase of Saldo Finance Oy, the Finnish holding company that controls Saldo Bank UAB. Financial terms were not disclosed. The acquisition is expected to close in 2027, subject to regulatory approvals and customary closing conditions.

Once completed, the deal would give the Cheyenne, Wyoming-based company a specialized banking licence in Lithuania, with passporting rights that extend its reach into Finland, Sweden,…