Kraken has entered into a definitive agreement to acquire Reap Technologies, a stablecoin-native, card-issuing and payments infrastructure company, for up to $600 million payable in cash and stock.
The transaction values Payward, the parent company of Kraken, at $20 billion and will expand the company’s B2B infrastructure platform, unlocking globally regulated infrastructure for card issuance and stablecoin payments, the company said in a press release.
The transaction is expected to close in the second half of 2026, subject to customary closing conditions and regulatory approvals.
Payward is building a single platform for companies that want to offer modern financial products, from crypto trading and custody to tokenized assets and derivatives.
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