Kraken Parent Acquires Reap for $600M
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Kraken's parent company, Payward, has announced a definitive agreement to acquire Hong Kong-based fintech firm Reap for up to $600 million. The acquisition is a strategic move to integrate Reap's card issuance and stablecoin payment capabilities into Kraken's new B2B platform, significantly expanding its suite of services for institutional clients. This deal underscores the growing convergence between traditional payment infrastructure and digital assets, with stablecoins playing a central role in streamlining cross-border transactions and corporate treasury operations. The acquisition is expected to close in the coming months, subject to regulatory approvals.
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