Payward Agrees $600 Million Acquisition of Stablecoin Payments Firm Reap | LeapRate | Online Trading Industry News, Broker Intelligence & Fintech Analysis
Unified financial infrastructure platform, Payward, which also operates the Kraken crypto exchange, has agreed to acquire Reap Technologies, the company announced Thursday.
Reap is a stablecoin-native card issuance and payments infrastructure company. Payward will pay up to $600 million in a mix of cash and stock, in a transaction that values Payward’s equity at $20 billion.
The deal extends Payward Services, the company’s business-to-business infrastructure platform, into the global cards and payments space, allowing partners to embed card issuance, cross-border payments and stablecoin treasury services alongside Payward’s existing crypto trading, custody and derivatives capabilities through a single integration point.
Reap, which nearly tripled revenue and volumes in 2025, has built a payments stack that connects card networks, traditional banking rails and stablecoin-native settlement within a single API-driven platform.
Its existing licences will accelerate Payward’s expansion across Asia Pacific and the Americas, whilst Payward’s EU and US licences open new corridors for Reap in those markets.
Together, the companies said they were positioned to extend stablecoin-powered payments infrastructure into high-growth markets across the Middle East, Africa and Latin America.
Arjun Sethi, Co-Chief Executive of Payward, said Reap represented “the payments layer for what comes next,” combining card networks, banking rails and blockchains on a single API settling in stablecoins.
Reap will continue to operate as a standalone platform under its existing leadership. The transaction is expected to close in the second half of 2026.
