Kraken’s parent company Payward to acquire Reap Technologies for $600 million
According to Bloomberg, Payward Inc., Kraken’s parent company, has agreed to acquire Hong Kong-based Reap Technologies for $600 million in cash and stock. Reap Technologies is a provider specializing in stablecoin-based cross-border and commercial payment services. Arjun Sethi, Co-CEO of Payward and Kraken, stated that the Payward stock issued in this transaction is valued at $2 billion. The acquisition aims to expand Payward’s presence in the Asian market.
