Ellex advised Payward, Inc., the parent company of Kraken, on its agreement to acquire Saldo Bank

Ellex Lithuania advised Payward, Inc., the parent company of Kraken, on its definitive agreement to acquire Saldo Finance Oy, a Finnish holding company whose subsidiary, Saldo Bank, UAB, is a digital-first specialised bank licensed in Lithuania and operating across five European markets.

Ellex acted as Lithuanian counsel to Payward and advised on the Lithuanian law aspects of the transaction, working alongside Jones Day and Ashurst Perkins Coie. The transaction is subject to customary closing conditions, including regulatory approvals.

The Ellex team was led by Partner Ieva Dosinaitė and Associate Partner Domantas Gudonis, and included Partners Dr Ąžuolas Čekanavičius, Dr Robertas Čiočys, Dr Jaunius Gumbis, Expert Nerijus Patlabys, Associate Partner Dominykas Užkurnys, Senior Associates Diana Laura Ločinska, Jonas Kružikas, Mindaugas Moskalionas, Eglė Radvilaitė, Kristina Saukalienė, Simas Staniulis, Vytautas Vosylius, Associates Justinas Celencevičius, Dominyka Grybauskaitė, Greta Gužauskaitė, Gabrielė Mačerauskaitė, Eglė Petrošiūtė-Marozė, Martynas Šeškus, Rūta Tamulionytė.

Payward, Inc. is a global financial infrastructure company founded in 2011. It owns and operates Kraken, one of the longest-operating crypto-asset platforms in the world.