Payward Acquires Reap for $600M in Stablecoin Payments Push

Payward, the parent company of cryptocurrency exchange Kraken, has made a significant move into stablecoin payments and B2B financial infrastructure with its acquisition of Reap Technologies for up to $600 million.

The deal, which is set to be completed in the second half of 2026 pending regulatory approvals, marks Payward's first major transaction in Asia. This expansion into the global cards and payments space will allow companies to integrate trading, payments, funding, and digital asset services through a single system.

Reap Technologies specializes in provisioning payment solutions that connect traditional financial systems with digital assets, aiming to enable cross-border money flows. The company's platform will continue to operate as a standalone entity after the acquisition.