# Kraken’s $600 million acquisition of Reap folds a Hong Kong stablecoin business‑payments specialist into its stack.

*fintech · news · 2026-05-07 · Crypto News*

## Key points

- Kraken is acquiring Hong Kong-based Reap Technologies for $600 million in cash and stock.
- Payward issued stock at a $20 billion valuation for this deal, matching its last major funding round.
- Reap's stablecoin-enabled platform integrates fiat and blockchain rails for corporate payments and expense management.
- Kraken recently filed confidentially for a U.S. IPO, with secondary valuations ranging from $13.3B to $20B.
- Hong Kong's new stablecoin licensing regime increases Reap's strategic value as a base for Kraken's Asian expansion.

**Companies:** Kraken, Payward Inc., Reap Technologies
**Countries:** Hong Kong, United States

[Read the full story on Crypto News](https://crypto.news/kraken-buys-hong-kong-stablecoin-firm-reap-for-600-million-in-asia-push/)

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