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Kraken Parent Payward to Buy Hong Kong's Reap Technologies for $600M to Step Up Asia Push

Payward Inc., the parent of cryptocurrency exchange Kraken, has agreed to acquire Hong Kong-based Reap Technologies in a deal valued at $600 million, paid in cash and stock, Bloomberg reported, citing ChainCatcher. Reap specializes in stablecoin-based cross-border and commercial payment services. Payward and Kraken Co-CEO Arjun Sethi said the share component of the transaction implies a $20 billion valuation for Payward. The purchase is intended to accelerate the group's expansion across Asia.
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