Kraken Parent Payward Buys Reap Technologies for $600M to Build Stablecoin Payment Rails

Kraken Parent Payward Buys Reap Technologies for $600M to Build Stablecoin Payment Rails

Briefly

"Payward Inc. agreed to acquire Reap Technologies for up to $600 million, valuing Kraken's parent at $20 billion. Reap nearly tripled revenue and volumes in 2025, with the global stablecoin card market now exceeding $18 billion annually. The deal is expected to close in the second half of 2026, expanding Payward Services into card issuance and cross-border payments."

"The transaction adds card issuance and stablecoin-powered cross-border payment infrastructure to Payward Services, the company's B2B platform. Payward Services currently gives partners a single integration point for crypto trading, custody, tokenized assets, on/off-ramps, and derivatives. Reap extends that into global cards and payments."

"Reap has built a platform that connects traditional financial rails, including card networks and banking systems, with stablecoin settlement via a single API. The company supports corporate card issuing, cross-border payouts, and treasury management for businesses operating across Asia, South America, and other regions."

"Reap will continue operating as a standalone platform under Guo's leadership, retaining its brand and go-to-market strategy. It will gain access to Payward's global liquidity, custody, settlement infrastructure, and regulatory licenses in the U"