Kraken Parent Acquires Asian Stablecoin Firm Reap for $600 Million: Bloomberg
Key takeaways
- The transaction includes both cash and stock, with Payward issuing shares at a $20 billion valuation, according to Arjun Sethi, co-CEO of Payward and Kraken.
- Reap Technologies operates as a cross-border payments provider that uses stablecoins to facilitate international business transactions.
- The acquisition positions Payward to expand its footprint beyond crypto trading into payment services across Asia.
Kraken Parent Acquires Asian Stablecoin Firm Reap for $600 Million: Bloomberg Decrypt Agent Thu, May 7, 2026 at 8:48 PM GMT+7 1 min read KRAK.PVT Payward Inc., the parent company of crypto exchange Kraken, has agreed to acquire Hong Kong-based stablecoin payments provider Reap Technologies for $600 million, Bloomberg reported Thursday.
The transaction includes both cash and stock, with Payward issuing shares at a $20 billion valuation, according to Arjun Sethi, co-CEO of Payward and Kraken. That’s the same valuation the firm announced when it raised $800 million in November, just ahead of filing for an impending IPO.
Reap Technologies operates as a cross-border payments provider that uses stablecoins to facilitate international business transactions. The company has built infrastructure specifically designed for Asian markets, where demand for cryptocurrency-based payment solutions continues to grow.