Kraken to buy stablecoin payments firm Reap in $600 million deal: Bloomberg

CoinDesk Staff

(12:52 PM UTC)

1 min read

Kraken owner Payward will acquire Hong Kong-based Reap Technologies as the crypto exchange expands its stablecoin and payments infrastructure business in Asia.

Kraken parent company Payward agreed to acquire stablecoin-focused payments firm Reap Technologies in a $600 million cash-and-stock deal, Bloomberg reported Thursday, citing Payward and Kraken co-CEO Arjunt Sethi.

The acquisition values…

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