Kraken parent Payward to acquire Hong Kong stablecoin firm Reap for $600 million
Payward, Kraken's parent company, is acquiring Hong Kong-based stablecoin payments firm Reap Technologies for $600 million. The deal expands Payward's presence in Asia's payments infrastructure, strengthening its stablecoin capabilities. This consolidation reflects growing institutional interest in crypto payment rails and stablecoins for cross-border transactions, relevant for Indian investors tracking major exchange expansions and blockchain adoption.
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Kraken parent Payward to buy Reap in $600M stablecoin payments push
Kraken parent Payward agreed to acquire Hong Kong-based Reap Technologies for up to $600 million, expanding into stablecoin payments and B2B financial infrastructure. The deal, combining cash and stock at a $20 billion valuation, adds card issuance and cross-border payment capabilities to Payward Services platform. Expected to close mid-2026, this marks Payward's largest Asia infrastructure acquisition amid growing stablecoin adoption among fintech firms and businesses.
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