Payward, the company behind crypto exchange Kraken, is buying Reap Technologies for $600 million using cash and assets worth $20 billion, according to Thursday. to announce.
Reap Technologies is a Hong Kong-based fintech company that uses stablecoin-powered rails and tools to facilitate global financial transactions.
The acquisition is the first phase of Payward’s infrastructure in Asia and will support new business products such as card issuance and stablecoin payments. Co-CEO Arjun Sethi said that Asia is the fastest growing market outside of Europe in terms of both revenue and platform assets, and that Reap’s capabilities can be expanded to the US quickly.
Payward recently launched a B2B platform to provide stablecoin payments, trading, lending, and other crypto services to fintech companies, banks, banks, and businesses.
After ending its regulatory battle with the US SEC, the company has moved aggressively to grow. His first major mission in this new phase was March 2025 shopping for NinjaTraderhis biggest find to date.
The latest move comes shortly after Payward entered into a definitive agreement to acquire Bitnomial, the first CFTC-licensed crypto company.
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