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via Decrypt · By Decrypt Editorial
Kraken Parent Acquires Asian Stablecoin Firm Reap for $600 Million: Bloomberg
DE
Decrypt Editorial(01:48 PM UTC)
1 min read
In brief
- Kraken parent Payward Inc. agreed to pay $600 million for Reap Technologies, a Hong Kong-based stablecoin payments provider.
- The deal combines cash and stock, with Payward issuing shares at a $20 billion valuation, according to co-CEO Arjun Sethi.
- Reap specializes in cross-border payments using stablecoins, targeting Asian markets for cryptocurrency payment infrastructure.
Payward Inc.…
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