Key Takeaways:
Payward Inc. agreed to acquire Reap Technologies for up to $600 million, valuing Kraken’s parent at $20 billion.Reap nearly tripled revenue and volumes in 2025, with the global stablecoin card market now exceeding $18 billion annually.The deal is expected to close in the second half of 2026, expanding Payward Services into card issuance and cross-border payments.The deal creates a complementary regulatory footprint across multiple markets. Reap’s existing licenses in the Asia-Pacific region help Payward expand across APAC and the Americas. Payward’s EU and U.S. licenses, in turn, open corridors for Reap in Europe and American markets. Together, the two companies plan to extend stablecoin-powered payments infrastructure into high-growth markets across the Middle East, North Africa, and Latin America.
