Payward invests $600M to buy Reap and fortify Kraken's stablecoin payments infrastructure across Asia

Payward, the parent company of crypto exchange Kraken, has agreed to acquire Hong Kong‑based Reap Technologies for $600 million, according to reports on the transaction ^{[1] [2]}.

Reap is a stablecoin payments firm that offers stablecoin‑based cross‑border and business payment services; coverage of the deal says the consideration will include a mix of cash and stock ^{[3] [2]}.

The acquisition is positioned as part of Kraken/Payward’s effort to expand its stablecoin and payments infrastructure presence in Asia and to enhance B2B payment capabilities ^{[1] [4]}.

One report adds that Payward’s issued shares were valued at about $20 billion in the transaction reporting, per coverage of the deal ^[3].

The deal consolidates Payward’s push into Asian stablecoin rails and payments services, leveraging Reap’s existing infrastructure to support cross‑border and business payment flows ^{[1] [4]}.