Kraken parent strikes $600 million deal to acquire Asian stablecoin firm Reap
Crypto Briefing
Payward, the parent company of Kraken, is acquiring Hong Kong-based fintech firm Reap Technologies for $600 million in a cash and stock deal.Summary
Payward, the parent company of the cryptocurrency exchange Kraken, has entered into an agreement to acquire Reap Technologies, a Hong Kong-based fintech firm, for $600 million. The deal, comprised of both cash and stock, marks Payward's first infrastructure acquisition in Asia. Reap Technologies specializes in stablecoin-powered payment solutions and business-to-business money movement tools, which Payward intends to integrate to bolster its offerings in card issuance and stablecoin-based payment services.
(Source：Crypto Briefing)