Kraken Parent Payward Buys Reap Technologies for $600M to Build Stablecoin Payment Rails

Payward Locks successful $600M Reap Acquisition arsenic Stablecoin Card Market Tops $18 Billion

The transaction adds paper issuance and stablecoin-powered cross-border outgo infrastructure to Payward Services, the company’s B2B platform. Payward Services presently gives partners a azygous integration constituent for crypto trading, custody, tokenized assets, on/off-ramps, and derivatives. Reap extends that into planetary cards and payments.

Reap has built a level that connects accepted fiscal rails, including paper networks and banking systems, with stablecoin colony via a azygous API. The institution supports firm paper issuing, cross-border payouts, and treasury absorption for businesses operating crossed Asia, South America, and different regions.

Arjun Sethi, Co-CEO of Payward, described stablecoins arsenic the “settlement substrate” for a fiscal strategy moving toward programmable wealth and autonomous execution. He pointed to respective milestones connected Payward’s platform, including Krak launching crossed 110 countries connected time 1 and xStocks crossing $29 cardinal successful cumulative volume successful its archetypal year.

Daren Guo, Co-Founder and CEO of Reap, said the planetary stablecoin and crypto paper marketplace present exceeds $18 cardinal annually. He noted that Reap astir tripled gross and volumes successful 2025 and expanded its licensing footprint from Asia into South America. Guo said joining Payward was a measurement toward connecting stablecoin cards to a afloat suite of crypto-native fiscal services.

Reap volition proceed operating arsenic a standalone level nether Guo’s leadership, retaining its marque and go-to-market strategy. It volition summation entree to Payward’s planetary liquidity, custody, colony infrastructure, and regulatory licenses successful the United States and the European Union.

The woody creates a complementary regulatory footprint crossed aggregate markets. Reap’s existing licenses successful the Asia-Pacific portion assistance Payward grow crossed APAC and the Americas. Payward’s EU and U.S. licenses, successful turn, unfastened corridors for Reap successful Europe and American markets. Together, the 2 companies program to widen stablecoin-powered payments infrastructure into high-growth markets crossed the Middle East, North Africa, and Latin America.

Reap is besides a subordinate successful the Global Dollar Network, connecting it further to stablecoin colony infrastructure.

The acquisition follows Payward’s caller purchases of NinjaTrader, Bitnomial, and Backed, continuing a strategy of gathering retired the level done targeted, capability-focused deals. Payward operates connected a shared architecture covering 1 planetary liquidity pool, 1 unified hazard and borderline engine, 1 collateral and colony system, and 1 compliance and licensing framework.

Stablecoin adoption for concern payments and treasury absorption has been climbing. In the release, Payward described the acquisition arsenic portion of its propulsion to physique unified fiscal infrastructure crossed trading, custody, tokenized assets, and payments.

The combined level would fto Payward Services partners embed paper issuance, cross-border payments, and stablecoin treasury tools alongside the company’s existing capabilities, without assembling aggregate vendors oregon managing abstracted systems.