Kraken parent Payward acquires Reap for $600M
6.6 Investments Kraken parent Payward will acquire Reap Technologies for $600M, expanding stablecoin payment infrastructure and B2B services in Asia and globally. Payward is now valued at $20B.
Payward, the parent company of crypto exchange Kraken, has agreed to acquire Hong Kong-based Reap Technologies for $600 million in a cash and stock deal, valuing Payward at $20 billion. Reap specializes in stablecoin-powered payment infrastructure, offering cross-border settlements, treasury tools, corporate cards, and APIs that bridge traditional finance with digital assets, primarily using USDC rails. This acquisition marks Payward's first major infrastructure deal in Asia and its third-largest overall. It provides immediate access to regulated payment systems in rapidly growing markets across Asia, Latin America, and Africa. The move aligns with Kraken's broader strategy to expand beyond crypto trading into stablecoin-based financial services and B2B payment solutions. The deal is subject to regulatory approval in multiple jurisdictions and is expected to close in the coming months. Reap was already profitable and had raised about $60 million prior to the acquisition.
