TLDR
- Payward plans to buy Reap for up to $600 million using cash and stock consideration.
- The proposed deal gives Kraken’s parent access to card issuing and stablecoin payment tools globally.
- Reap will keep its brand and operate under CEO Daren Guo after the transaction closes.
- Payward Services could add global cards, payouts, and treasury products through Reap’s single API platform.
- The transaction is expected to close in the second half of 2026 after approvals arrive.
Kraken-backed Payward Inc. has agreed to acquire Reap Technologies Holdings for up to $600 million. The deal includes cash and stock, and it values Payward at $20 billion. The transaction aims to expand Payward’s business payment tools through stablecoin and card services.
Payward Moves Deeper Into Payments
Payward is the parent company of crypto exchange Kraken. The company said the Reap deal will support Payward Services, its business platform. The platform already offers trading, custody, tokenized assets, on-ramps, off-ramps, and derivatives.
Reap adds card issuing and payment tools to that platform. Its system connects card networks, banks, and stablecoin settlement through one API. As a result, business clients can use one setup for several payment needs.
The deal also supports Payward’s plan to build wider financial infrastructure. The company wants partners to embed crypto services without handling many vendors. This can help firms add payments, cards, and treasury tools through one provider.
Reap Brings Card Issuing and Stablecoin Rails
Reap Technologies is based in Hong Kong and serves business clients in several regions. The company supports corporate cards, cross-border payouts, and treasury services. Its platform operates across Asia, South America, and other markets.
Reap Co-Founder and CEO Daren Guo said the stablecoin and crypto card market now exceeds $18 billion yearly. He also said Reap nearly tripled revenue and payment volume in 2025. The company also expanded its licensing reach from Asia into South America.
Guo said joining Payward would help connect stablecoin cards with more crypto-native financial services. Reap will keep its name and operate as a standalone business. Guo will continue to lead the company after the deal closes.
Deal Expands Payward Services Across Markets
Payward said Reap will gain access to its liquidity, custody, settlement, and compliance network. The company also points to licenses in the United States and Europe. These licenses may help Reap enter more payment corridors.
At the same time, Reap gives Payward a wider base in Asia-Pacific markets. The combined reach also covers parts of the Americas. Both companies plan to extend stablecoin payment tools into the Middle East, North Africa, and Latin America.
Payward Co-CEO Arjun Sethi called stablecoins the “settlement substrate” for programmable money. He also cited the launch of Krak in 110 countries on day one. He added that xStocks crossed $29 billion in volume during its first year.
The Reap purchase follows other Payward deals, including NinjaTrader, Bitnomial, and Backed. These deals show a focus on adding specific business tools. The Reap transaction is expected to close in the second half of 2026.
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