Kraken parent strikes $600 million deal to acquire Asian stablecoin firm Reap
Payward recently agreed to acquire Bitnomial in a transaction worth up to $550 million.
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Add us on Google by Vivian Nguyen May. 7, 2026Payward, the company behind crypto exchange Kraken, is buying Reap Technologies for $600 million using cash and stock valued at $20 billion, Bloomberg reported today.
Reap Technologies is a Hong Kong fintech firm specializing in stablecoin-powered payment rails and tools that support global business-to-business money movement.
The acquisition is Payward’s first infrastructure deal in Asia and will support new business-to-business products like card issuance and stablecoin payments. Co-CEO Arjun Sethi said that Asia is the fastest-growing market outside Europe in terms of both revenue and assets on the platform, and that Reap’s capabilities could be expanded into the US quickly.
Payward recently launched a B2B infrastructure platform offering stablecoin payments, trading, lending, and other crypto services to fintech firms, banks, brokerages, and businesses.
After settling its regulatory battle with the US SEC, the firm has moved more aggressively toward expansion. Its first major transaction in this new phase was the March 2025 purchase of NinjaTrader, its largest acquisition to date.
The latest move comes shortly after Payward entered into a definitive agreement to acquire Bitnomial, the first fully CFTC-licensed crypto derivatives company.
This is a developing story. Please check back for updates.
Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.
