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Kraken’s $600 million acquisition of Reap folds a Hong Kong stablecoin business‑payments specialist into its stack.
Kraken is acquiring Hong Kong-based Reap Technologies for $600 million in cash and stock.
KEY POINTS
- 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
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