TheBlock
Payward Inc., Kraken's parent company, has agreed to acquire Hong Kong-based Reap Technologies for $600 million in cash and stock, marking its first infrastructure deal in Asia and its third-largest acquisition overall. Payward is issuing shares at a $20 billion valuation to help fund the deal, co-CEO Arjun Sethi told Bloomberg.
Reap, led by former Stripe Asia Pacific architect Daren Guo and ex-investment banker Kevin Kang, provides stablecoin-based cross-border and B2B payment services that bridge traditional finance with digital assets. The acquisition slots into a B2B infrastructure platform Payward launched this year, covering stablecoin payments, digital-asset trading, and lending for fintechs, banks, and brokerages. New products expected from the combination include card issuance and stablecoin payment rails.
The deal arrives days after Payward closed its $550 million purchase…
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