Kraken's parent company, Payward Inc., has announced a $600 million acquisition of Hong Kong-based Reap Technologies. The deal, involving cash and stock, aims to enhance Kraken's presence in the Asian market. Arjun Sethi, Co-CEO of Payward and Kraken, highlighted that the shares issued in this transaction suggest a valuation of $20 billion for Payward. Reap Technologies specializes in stablecoin cross-border and commercial payment services, aligning with Kraken's strategic expansion goals.
Kraken to Acquire Reap Technologies for $600 Million to Boost Asian Expansion
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