Payward, the unified STABLECOIN platform behind Kraken,  has completed its $600 million acquisition of Reap, a Hong Kong-based stablecoin-native card issuing and payments infrastructure company founded by former Stripe Asia-Pacific head Daren Guo and former investment banker Kevin Kang. The deal is structured as cash and Payward stock at a $20 billion implied equity value, which adds embedded card issuance, cross-border money movement, and stablecoin-based treasury management to Payward Services, which now gives 1,900+ B2B partners a single API covering crypto trading, custody, tokenized assets, on/off-ramps, derivatives, and global payments. Reap’s licenses accelerate Payward’s expansion across APAC and Latin America, while Payward’s EU and U.S. licenses open new corridors for Reap and the combined entity is targeting MENA as the next high-growth market, with Payward also awaiting an OCC national trust bank charter response filed in May.

Payward Completes Reap Acquisition