Kraken's Parent Payward Acquires Reap Technologies $600M
Kraken's parent company Payward agreed to acquire Hong Kong-based Reap Technologies for up to $600M on 06 May 2026. The deal is Payward's first Asian stablecoin infrastructure acquisition.
Payward agrees to buy Hong Kong fintech Reap
Payward, the parent company of crypto exchange Kraken, agreed on 06 May 2026 to acquire Reap Technologies. Reap Technologies is a financial technology firm based in Hong Kong that provides stablecoin infrastructure. A stablecoin is a digital currency pegged to a stable asset, such as the US dollar. The deal value reaches up to $600 million, paid in a combination of cash and equity.
Equity portion priced at $20 billion valuation
The equity portion of the payment uses a Payward company valuation of $20 billion. Both parties announced the agreement on 06 May 2026.
Deal marks Payward's first Asian infrastructure acquisition
The Reap acquisition is Payward's first purchase of Asian stablecoin infrastructure. Reap Technologies operates across Asia and provides stablecoin infrastructure for the region. Payward confirmed this is the company's first deal of this type in the Asian market.
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