Payward agrees to acquire Reap Technologies for $600 million
Updated
Updated · Bloomberg · May 7
Payward agrees to acquire Reap Technologies for $600 million
1 articles · Updated · Bloomberg · May 7
The deal values Kraken parent Payward stock at $20 billion, co-chief executive Arjun Sethi said, and combines cash with shares for the Hong Kong-based payments company.
Reap provides stablecoin-focused cross-border and business payments services, giving Payward a stronger foothold in Hong Kong and broader Asian markets.
The acquisition underscores crypto firms' push to expand beyond trading into payments infrastructure, using stablecoins to target faster international transfers and business transactions.
With stablecoin payments surging, is Kraken's $600M deal a masterstroke or a risky peak-market gamble?
As a US giant enters Hong Kong, will Kraken bend to Asia's new crypto rules or reshape them?