Illustration of Payward acquiring Reap Technologies in a Hong Kong boardroom with executives shaking hands and crypto deal details displayed.
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Kraken parent Payward agrees to acquire Reap Technologies for $600 million

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Payward, the parent company of cryptocurrency exchange Kraken, has agreed to acquire Hong Kong-based Reap Technologies for up to $600 million in a cash-and-stock deal. The transaction values Payward at $20 billion and represents the company's largest acquisition to date.

The deal, reported by Bloomberg on Thursday, expands Kraken's presence in Asia through stablecoin infrastructure and cross-border payments. Reap Technologies, founded by former Stripe Asia-Pacific lead Daren Guo and ex-investment banker Kevin Kang, connects traditional finance with digital assets using stablecoin-powered settlement for business-to-business flows.

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Initial reactions on X highlight excitement over Kraken's expansion into stablecoin payments and Asia infrastructure, with users noting the strategic shift beyond trading platforms and potential for B2B growth; some posts frame the deal as a power move while others suggest it reflects leverage rather than conviction.

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