Kraken Parent Payward Buys Reap in $600M Stablecoin Payments Push

Kraken's parent company, Payward, has agreed to acquire Hong Kong-based Reap Technologies for up to $600 million in a deal aimed at expanding its stablecoin payments and business-to-business (B2B) financial infrastructure. The acquisition, valued at $20 billion in Payward equity, will integrate Reap's global cards and payments capabilities into Payward Services, the company's B2B platform. This move aligns with the broader trend of crypto companies expanding beyond trading into payments infrastructure and stablecoin products. Reap will continue to operate as a standalone platform, with the transaction subject to regulatory approvals and expected to close in the second half of 2026. The deal also signifies Payward's deepening expansion into the Asian market, which is identified as a key growth region.

(Source：Cointelegraph)