Payward, parent company of Kraken, has agreed to spend up to $600 million to purchase Reap Technologies, a Hong Kong-based firm that specializes in stablecoin payments and B2B financial infrastructure. This move will further Payward’s drive into these areas.
On Thursday, Payward announced that it had finalized a deal to buy Reap for a potential $600 million. The acquisition is expected to be settled with a combination of cash and Payward shares, with the equity of Payward being valued at $20 billion. This would allow the company’s B2B infrastructure platform, Payward Services, which was established in March 2026, to grow.
Banking on Stablecoin Popularity
This acquisition comes at a time when stablecoins are gaining popularity among fintech organizations and enterprises, and crypto corporations are looking to diversify their revenue streams by offering payment infrastructure and other goods linked to stablecoins.
It is anticipated that the acquisition would conclude in the second half of 2026, subject to usual regulatory clearances, according to a statement released on Thursday by the co-founders of Reap. The statement also said that the platform will continue to operate independently.
Payward Services provides a unified platform for businesses to transact, pay, finance, and manage digital assets.
By acquiring Reap, Payward has expanded its platform into the worldwide payments and card market, enabling its partners to integrate features such as stablecoin treasury services, cross-border payments, and card issuance.
The subsequent step’s payment layer is Reap. In the release, Arjun Sethi, co-CEO of Payward and Kraken, discussed the integration of card networks, banking rails, and blockchains via a unified API, emphasizing the importance of stablecoins.
Payward continues to extend its platform via selective acquisitions; it has acquired Bitnomial exchange, futures broker NinjaTrader, and xStocks issuer Backed. The purchase of Reap follows these acquisitions.