Kraken parent strikes $600 million deal to acquire Asian stablecoin firm Reap

Payward, the company behind crypto exchange Kraken, is buying Reap Technologies for $600 million using cash and stock valued at $20 billion.

Reap Technologies is a Hong Kong fintech firm specializing in stablecoin-powered payment rails and tools that support global business-to-business money movement.

The acquisition is its first infrastructure deal in Asia and will support new business-to-business products like card issuance and stablecoin payments.

This is a developing story. Please check back for updates.

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