Crypto Exchange Kraken Snags Reap Technologies For $600 Million
The deal adds card issuance, cross-border payments and stablecoin treasury services to Payward Services as Reap stays a standalone brand.
- On Thursday, Payward entered a definitive agreement to acquire Reap Technologies for up to $600 million in cash and stock, valuing the parent company of Kraken at $20 billion.
- The acquisition expands Kraken's footprint in Asia, a fast-growing region for crypto adoption, by integrating Reap's stablecoin-native, card-issuing, and payments infrastructure based in Hong Kong.
- Reap's card issuance and cross-border payments will integrate with Payward Services, serving 1,900 B2B partners. CEO Daren Guo stated, "stablecoins in card payments are one of the largest real-world applications today."
- Payward's April 17 agreement to acquire Bitnomial for up to $550 million preceded this move as Kraken remains "about 80% ready" to go public, co-CEO Arjun Sethi announced.
- Together, the companies plan to grow stablecoin-powered payments infrastructure across MENA and Latin America, with the deal expected to close in the second half of 2026 as Reap operates independently.
29 Articles
29 Articles
Crypto Exchange Kraken Snags Reap Technologies For $600 Million
Kraken has entered into a definitive agreement to acquire Reap Technologies, a stablecoin-native, card-issuing and payments infrastructure company, for up to $600 million payable in cash and stock. The transaction values Payward, the parent company of Kraken, at $20 billion and will expand the company’s B2B infrastructure platform, unlocking globally regulated infrastructure for card issuance and stablecoin payments, the company said in a press …
Fintech Unwrapped: Kraken to acquire Reap for $600m
Payment Expert’s Fintech Unwrapped delivers the latest and developing news that has shaped the sector over the course of the week. This week, Kraken parent company Payward announced the acquisition of stablecoin payment firm Reap, further increasing merger and acquisition activity for stablecoin companies. Also this week, Anthropic has partnered with FIS to automate money laundering assessments, Currensea is expanding in Europe to offer its lo…
Payward Agrees $600 Million Acquisition of Stablecoin Payments Firm Reap | LeapRate | Online Trading Industry News, Broker Intelligence & Fintech Analysis
Unified financial infrastructure platform, Payward, which also operates the Kraken crypto exchange, has agreed to acquire Reap Technologies, the company announced Thursday. Reap is a stablecoin-native card issuance and payments infrastructure company. Payward will pay up to $600 million in a mix of cash and stock, in a transaction that values Payward’s equity at $20 billion. The deal extends Payward Services, the company’s business-to-business …
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