Kraken’s parent company has agreed to buy Hong Kong-based Reap Technologies, valued at up to $600 million. The move speeds up Payward’s push into stablecoin payments and financial infrastructure services.
The acquisition will use a mix of cash and Payward stock and values the company at about $20 billion. It is expected to strengthen Payward Services, the business infrastructure platform launched earlier this year.
Reap builds payment infrastructure that links traditional banks with digital assets. Its technology focuses on cross-border payments, card issuance, and stablecoin-based treasury services. After the acquisition, Reap will keep operating as a standalone platform but will integrate more with Payward’s infrastructure products. This reflects a broader trend across the crypto industry, where major firms are increasingly moving beyond trading into payments, settlements, and financial services powered by stablecoins. Payward and Kraken co-CEO Arjun Sethi described Reap as a payments layer that combines banking rails, card networks, and blockchain infrastructure into a single system.
Source: x.com
This is Payward’s first big infrastructure expansion in Asia. Sethi said Asia is now one of the fastest-growing regions for digital asset adoption and platform use.
The Reap deal follows other strategic moves by Payward, including buying companies in derivatives trading and tokenized asset platforms, as it works to build a broader crypto financial ecosystem.
You need to login in order to Like
Leave a comment