Payward Buys Stablecoin Payments Firm Reap for $600 Million

Author:The Currency Analytics2min read

Payward, the parent company of crypto exchange Kraken, has signed a definitive agreement to acquire Hong Kong stablecoin payments firm Reap for up to $600 million in cash and stock, according to Bloomberg. The deal, announced May 7, 2026, marks the latest in a rapid acquisition spree that is transforming Payward from a pure-play exchange operator into a diversified financial services group.

Reap has built infrastructure that makes stablecoin payments practical for businesses, and the acquisition gives Payward a payments rail to complement its trading and custody operations. The deal follows Payward's acquisition of crypto derivatives platform Bitnomial for up to $550 million, also payable in cash and stock, which created a fully CFTC-licensed derivatives platform. Earlier in 2025, Payward acquired NinjaTrader for $1.5 billion, the largest deal between traditional finance and crypto at the time.

The expansion has drawn strategic investors. Nasdaq invested $100 million in Payward in a round that valued the company at $20 billion in November 2025, and the investment also made Payward a Nasdaq customer. Deutsche Börse Group agreed to a $200 million stake in December 2025, deepening a partnership covering trading, custody, and settlement. Payward has also partnered with Franklin Templeton on tokenized assets, teamed with SoFi to link banking and digital asset markets, and applied for an OCC national trust bank charter to offer federally regulated digital asset custody to institutional clients.

Payward launched its B2B infrastructure platform, Payward Service, earlier this year, supporting stablecoin payments and virtual asset loans. The company has delayed its IPO to Q2 2027 at the earliest, according to CoinDesk, as it continues to build out its financial services footprint.

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Disclaimer: The content provided on Onebullex News is for informational purposes only. We do not guarantee the quality, accuracy, or completeness of the information sourced from third-party articles. The content on this page does not constitute financial or investment advice. We strongly encourage you to conduct your own research and consult with a qualified financial advisor before making any investment decisions.

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