Kraken Buys Reap for $600 Million as Asia Stablecoin Race Heats Up
Payward Inc., the guardian firm of crypto trade Kraken, agreed to accumulate Hong Kong-based funds agency Reap Technologies for $600 million in money and inventory. The transfer deepens Kraken’s push into Asia and accelerates its growth past crypto buying and selling into stablecoin-powered monetary companies.
The deal values Payward shares at roughly $20 billion, matching prior funding spherical estimates. Kraken co-CEO Arjun Sethi confirmed the phrases on to Bloomberg.
Kraken Expands Stablecoin Infrastructure
Reap makes a speciality of stablecoin-native payment infrastructure for businesses, together with cross-border settlements, treasury instruments, and company card companies tied to fiat and digital belongings.
Its merchandise, together with Reap Card and programmable fee APIs, are designed round regulated stablecoin utilization, primarily utilizing USDC rails. The firm operates throughout Hong Kong, Singapore, Mexico, and rising market corridors spanning Asia, Latin America, and Africa.
The acquisition offers Kraken fast entry to regulated fee infrastructure in fast-growing markets as an alternative of constructing these programs internally.
Why Reap Matters
Reap was already profitable in 2025 and had reportedly raised round $60 million earlier than the acquisition. The firm additionally participates within the Global Dollar Network, aligning with Kraken’s broader push into stablecoin settlement and embedded finance.
The acquisition follows Kraken’s aggressive growth technique over the previous two years. Recent deals embrace the $1.5 billion acquisition of NinjaTrader, alongside investments in derivatives, tokenization platforms, and institutional finance infrastructure.
Kraken Official Site has not but revealed a proper announcement, and Reap has additionally remained silent publicly as of publication time.
What’s Next for Kraken
The transaction is signed however nonetheless topic to regulatory approvals in jurisdictions together with Hong Kong and Singapore. Closing is predicted within the coming months.
Investors will now watch how Kraken integrates Reap’s fee rails into its institutional and prime brokerage merchandise, particularly as international competitors round stablecoin funds intensifies.
The submit Kraken Buys Reap for $600 Million as Asia Stablecoin Race Heats Up appeared first on BeInCrypto.