Kraken Parent Payward Buys Reap for $600 Million to Expand Stablecoin Payments

CryptoProwl

Thu, May 7, 2026 astatine 9:39 AM CDT 2 min read

Kraken genitor Payward has agreed to get Reap Technologies successful a woody valued astatine astir $600 million, adding a Hong Kong-based stablecoin payments steadfast to 1 of crypto’s longest-running speech businesses. The cash-and-stock transaction gives Kraken a deeper foothold successful commercialized and cross-border payments astatine a clip erstwhile stablecoins are moving further into mundane fiscal infrastructure.

The acquisition fits a broader signifier successful Kraken’s expansion. The institution has been moving beyond spot trading done derivatives, payments, tokenized assets and organization services, portion besides preparing for a imaginable nationalist listing. Reap adds a antithetic benignant of capableness to that mix: infrastructure for businesses that privation to send, person and negociate payments utilizing stablecoins without rebuilding their ain rails from scratch.

Reap’s concern is particularly applicable successful Asia, wherever stablecoin usage has go much intimately tied to real-world outgo needs, merchant colony and cross-border treasury flows. For Kraken, buying that infrastructure could assistance crook payments into a larger portion of the platform’s aboriginal gross base, alternatively than leaving the institution babelike lone connected trading enactment and marketplace cycles.

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The woody besides lands soon aft Kraken and MoneyGram announced a concern that allows users to person crypto into currency done MoneyGram’s planetary payout web crossed much than 100 countries. Seen together, those steps constituent to a clearer payments strategy: Kraken is trying to link speech liquidity, stablecoin colony and fiat entree successful a mode that tin service some consumers and businesses.

Kraken remains privately held, but its M&A enactment is giving investors a amended consciousness of what the institution wants to look similar earlier immoderate public-market debut. Reap’s stablecoin payments stack adds different portion to that picture, suggesting Kraken is gathering toward a broader fiscal level wherever crypto is not conscionable traded, but besides moved, settled and spent crossed planetary outgo corridors.