Half-billion dollar takeover: Crypto giant's owner expands portfolio with major fintech purchase

Payward, the parent company of crypto exchange Kraken, agreed on 06 May 2026 to acquire Reap Technologies. Reap Technologies is a financial technology firm based in Hong Kong that provides stablecoin infrastructure. A stablecoin is a digital currency pegged to a stable asset, such as the US dollar. The deal value reaches up to $600 million, paid in a combination of cash and equity.

Equity portion priced at $20 billion valuationThe equity portion of the payment uses a Payward company valuation of $20 billion. Both parties announced the agreement on 06 May 2026.

Deal marks Payward's first Asian infrastructure acquisitionThe Reap acquisition is Payward's first purchase of Asian stablecoin infrastructure. Reap Technologies operates across Asia and provides stablecoin infrastructure for the region. Payward confirmed this is the company's first deal of this type in the Asian market. The Reap acquisition is Payward's first purchase of Asian stablecoin infrastructure. Reap Technologies operates across Asia and provides stablecoin infrastructure for the region. Payward confirmed this is the company's first deal of this type in the Asian market. Cryptocurrencies are highly volatile and involve significant risk. You may lose part or all of your investment. All information on Coinpaprika is provided for informational purposes only and does not constitute financial or investment advice. Always conduct your own research (DYOR) and consult a qualified financial advisor before making investment decisions. Coinpaprika is not liable for any losses resulting from the use of this information.