Kraken Buys Reap for $600 Million as Asia Stablecoin Race Heats Up

Payward Inc., the parent company of crypto exchange Kraken, agreed to acquire Hong Kong-based payments firm Reap Technologies for $600 million in cash and stock. The move deepens Kraken’s push into Asia and accelerates its expansion beyond crypto trading into stablecoin-powered financial services. The deal values Payward shares at roughly $20 billion, matching prior funding