Kraken Pushes Beyond Crypto Trading With Reap Acquisition And Global Stablecoin Infrastructure Strategy
In Brief
Kraken parent Payward will acquire Reap Technologies for $600 million to expand stablecoin-powered payments, cross-border settlement infrastructure, and institutional financial services globally.
Payward, the parent company of cryptocurrency exchange Kraken, has agreed to acquire Hong Kong-based financial technology firm Reap Technologies in a transaction valued at approximately $600 million.
The deal, which includes a combination of cash and stock, represents another step in Kraken’s broader expansion strategy as the company moves beyond digital asset trading into stablecoin-based payment infrastructure and institutional financial services.
According to statements from Payward co-chief executive officer Arjun Sethi, shares issued as part of the transaction were valued at around $20 billion. The acquisition remains subject to regulatory approval in multiple jurisdictions, including Hong Kong and Singapore, with completion expected in the coming months.
Reap Technologies focuses on stablecoin-powered payment systems designed for businesses operating across international markets. The company provides infrastructure for cross-border settlements, treasury management, and corporate payment products linked to both traditional fiat currencies and digital assets. Its services are widely used in crypto-linked payment card programs, often referred to as “U cards,” where Reap serves as underlying settlement infrastructure.
The company’s platform includes programmable payment APIs and corporate card solutions built primarily around regulated stablecoin networks, including USDC-based payment rails. Reap currently operates across several regions, including Hong Kong, Singapore, Mexico, and a number of emerging market corridors spanning Asia, Latin America, and Africa.
The acquisition is expected to give Kraken immediate access to regulated payment infrastructure in regions where digital asset adoption and stablecoin usage continue to expand.
Kraken Expands Stablecoin Payments Strategy To Strengthen Global Financial Infrastructure Ambitions
The move comes as competition intensifies among cryptocurrency firms seeking to establish stablecoin payment ecosystems and embedded financial services. Industry participants have increasingly focused on cross-border payment systems as stablecoins gain traction for international settlement and treasury operations. By integrating Reap’s infrastructure, Kraken is expected to strengthen its institutional and prime brokerage offerings while expanding its presence in global payments.
Reap was reportedly profitable in 2025 and had previously raised approximately $60 million in funding prior to the acquisition agreement. The company also participates in the Global Dollar Network, an initiative focused on expanding stablecoin-based settlement infrastructure and interoperability across financial platforms.
The acquisition follows several other expansion initiatives undertaken by Kraken over the past two years. Earlier transactions included the company’s reported $1.5 billion acquisition of futures trading platform NinjaTrader, alongside investments in derivatives trading, tokenization infrastructure, and institutional financial products. The latest agreement further signals Kraken’s intention to position itself as a broader financial infrastructure provider rather than solely a cryptocurrency exchange operator.
Market observers are expected to monitor how Payward integrates Reap’s payment infrastructure into its existing services, particularly as stablecoin adoption accelerates and regulatory frameworks around digital payments continue to evolve globally.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in crypto, AI, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in crypto, AI, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
