Kraken Expands Global Stablecoin Infrastructure With $600 Million Acquisition of REAP.

May 7, 2026, San Francisco / Hong Kong — Kraken parent company Payward Inc. has entered into a definitive agreement, according to Bloomberg, to acquire Reap Technologies, a leading stablecoin-powered cross-border payments platform headquartered in Hong Kong, in a transaction valued at approximately $600 million.

The acquisition marks a major step in Kraken’s evolution from a crypto exchange into a full-stack global financial infrastructure company focused on stablecoin payments, institutional finance, and embedded fintech services.

Founded in Hong Kong, Reap Technologies has built a strong reputation across Asia-Pacific for enabling businesses to move money globally using stablecoin-native infrastructure, corporate cards, treasury management tools, and programmable payment APIs.

By integrating Reap’s technology stack into Kraken’s ecosystem, Payward aims to accelerate the development of next-generation financial services that bridge traditional banking systems with blockchain-native payments.

Reap will continue operating under its existing leadership team while benefiting from Kraken’s global regulatory footprint, liquidity network, and institutional client base.

The deal also reinforces Kraken’s broader expansion strategy following recent acquisitions in derivatives, tokenized assets, and institutional financial services.

Industry analysts view the transaction as another signal that stablecoin infrastructure is becoming one of the most strategic battlegrounds in fintech and crypto.

The transaction remains subject to customary regulatory approvals and closing conditions.

About Kraken
Kraken is one of the world’s leading digital asset platforms, serving millions of clients globally across trading, custody, payments, and institutional finance.

About Reap Technologies
Reap Technologies is a Hong Kong-based fintech company focused on stablecoin-powered payment infrastructure, helping businesses simplify cross-border transactions and treasury operations through blockchain-enabled financial tools.