Payward, parent company of crypto exchange Kraken, has agreed to acquire Hong Kong-based Reap Technologies for $600 million. The acquisition values Payward at $20 billion.
Reap Technologies specializes in stablecoin-based cross-border and business payments services, connecting traditional financial systems with digital assets. The deal expands Payward's reach into emerging markets and payment infrastructure.
Payward financed the acquisition through stock issuance, which simultaneously established the company's $20 billion valuation. The move reflects ongoing consolidation in the cryptocurrency and blockchain payments sector.
Reap's focus on business payments and cross-border transactions complements Kraken's existing crypto exchange operations. The combined entity positions Payward to compete in both institutional and retail crypto markets while building bridges to traditional finance.
The acquisition underscores growing institutional appetite for blockchain-based payment solutions and digital asset infrastructure. Payward joins other major crypto platforms in expanding beyond trading to offer broader financial services.
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