Kraken parent Payward to buy Reap in $600 million stablecoin payments push

Kraken parent Payward agreed to buy Hong Kong-based Reap for up to $600 million, adding card issuance and stablecoin payment capabilities to its new B2B platform.

Kraken parent Payward agreed to acquire Hong Kong-based Reap Technologies for up to $600 million as the company expands into stablecoin payments and business-to-business (B2B) financial infrastructure.

The deal will be paid in a mix of cash and Payward stock, valuing Payward’s equity at $20 billion, the company said on Thursday. It would expand Payward Services, the company's B2B infrastructure platform launched in March 2026.

The deal comes as crypto companies move beyond trading services into payments, treasury and settlement products built around stablecoins.

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