Payward Acquires Reap for $600M
Analysis based on 14 articles · First reported May 07, 2026 · Last updated May 07, 2026
The acquisition of Reap Technologies by Payward significantly expands Kraken's stablecoin payment infrastructure and B2B financial services, particularly in Asia, which is expected to boost Payward's valuation and market position ahead of its potential IPO. This move reflects a broader trend of crypto companies diversifying beyond trading into payments, potentially increasing competition in the global stablecoin payments market.
Payward, the parent company of Kraken, has agreed to acquire China — Hong Kong-based Reap Technologies for up to $600 million in cash and stock, valuing Payward's equity at $20 billion. This acquisition is a strategic move to expand Payward Services, its B2B infrastructure platform, into global cards and stablecoin payment capabilities, especially in the fast-growing Asian market. Reap Technologies, co-founded by Daren Guo and Kevin Kang, specializes in connecting traditional financial systems with digital assets and will continue to operate as a standalone platform. The deal is subject to regulatory approvals and is expected to close in the second half of 2026. This acquisition is part of Payward's aggressive expansion strategy, following previous deals like Bitnomial, NinjaTrader, and Backed Finance, as it prepares for a confidential initial public offering.
Set up alerts, explore entity relationships, search across thousands of events, and build custom intelligence feeds.
Open Dashboard