TLDR
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Kraken buys Reap Technologies in a $600M cash-and-stock deal.
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Reap gives Kraken stablecoin payment rails across key markets.
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The deal supports Kraken’s Asia growth and B2B finance push.
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Kraken adds Reap’s card, treasury, and settlement infrastructure.
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Payward expands beyond crypto trading into global payment services.
Kraken parent company Payward agreed to acquire Hong Kong fintech firm Reap Technologies in a $600 million transaction. The deal combines cash and stock, while Payward shares carry a reported $20 billion valuation. Kraken will strengthen its stablecoin infrastructure and expand deeper into Asian financial markets.
Kraken Strengthens Stablecoin Payment Infrastructure
Kraken moved further into stablecoin-based financial services through its acquisition of Reap Technologies. Reap operates payment infrastructure supporting cross-border settlements, treasury services, and corporate payment cards. The company connects traditional payment systems with digital asset settlement rails.
Reap built its operations around regulated stablecoin usage, mainly through USDC-powered settlement networks. The company currently operates across Hong Kong, Singapore, Mexico, and several emerging financial corridors. Kraken gains immediate access to regulated payment infrastructure across Asia, Latin America, and Africa.
Kraken continues shifting beyond crypto trading and into broader financial infrastructure services. The acquisition also supports Payward’s growing business-to-business platform for fintech firms and banks. Kraken plans to expand Reap’s payment capabilities into the United States market.
Kraken co-CEO Arjun Sethi confirmed the acquisition details directly to Bloomberg on Thursday. He described Asia as Kraken’s fastest-growing market outside Europe for revenue and platform assets. The transaction marks Kraken’s first infrastructure-focused acquisition in Asia.
Kraken Accelerates Global Expansion Strategy
Kraken increased its acquisition activity after resolving its regulatory dispute with the United States Securities and Exchange Commission. The company completed several major transactions during the past two years across trading and infrastructure sectors. As a result, Kraken expanded aggressively into derivatives, institutional finance, and tokenization services.
Kraken completed its $1.5 billion acquisition of NinjaTrader earlier in 2025. The company also agreed to acquire Bitnomial, a fully licensed crypto derivatives platform in the United States. Bitnomial holds regulatory approvals covering futures trading, clearing, and commission merchant operations.
Kraken views stablecoins as a major driver of future financial infrastructure and payment settlement systems. Payward recently launched business-focused products supporting stablecoin payments, lending, trading, and embedded crypto services. Therefore, the Reap acquisition directly supports Kraken’s long-term infrastructure and payment ambitions.
Reap reported strong business growth during 2025 before the acquisition agreement emerged publicly. The company nearly tripled both revenue and payment volumes while expanding licensing operations internationally. Reap already participated in the Global Dollar Network before joining Kraken’s expanding payment ecosystem.
Kraken Targets Asia’s Growing Crypto Payment Market
Kraken continues increasing its presence in Asia as regional crypto adoption accelerates rapidly across multiple markets. Stablecoin payment activity also expanded significantly throughout Asia, Latin America, and emerging financial economies. Kraken identified infrastructure expansion as a key growth strategy within those regions.
Reap founders Daren Guo and Kevin Kang previously built strong financial and payments industry experience. Guo helped launch Stripe’s Asia-Pacific operations before establishing Reap Technologies in Hong Kong. Kang previously worked within investment banking before entering financial technology services.
Kraken has not yet published a formal announcement regarding the acquisition on its official website. Reap also remained publicly silent following widespread reports surrounding the transaction announcement. However, Bloomberg reported the agreement directly through statements from Kraken executives and Payward leadership.
