Kraken parent Payward to buy Reap in $600M 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, expanding its push into stablecoin payments and business-to-business (B2B) financial infrastructure.

Payward has entered into a definitive agreement to acquire Reap for up to $600 million, the company announced Thursday. The deal is set to be paid in a mix of cash and Payward stock, in a transaction that values Payward’s equity at $20 billion. It would expand Payward Services, the company's B2B infrastructure platform launched in March 2026.

The deal comes as crypto companies increasingly expand beyond trading services into payments infrastructure and stablecoin-related products as stablecoins gain traction among fintech firms and businesses.

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