Payward acquires Reap Technologies Holdings in $600m deal

By Aarav Garg

Payward has agreed to acquire Hong Kong-based Reap Technologies Holdings in a deal valued at up to $600 million, as digital asset firms continue expanding into mainstream payments and financial services infrastructure.

The transaction, which will be settled through a mix of cash and Payward stock, is designed to extend Payward’s business-to-business infrastructure platform into card issuance and cross-border payments. The acquisition values Payward’s equity at $20 billion and is expected to close in the second half of 2026, subject to regulatory approvals and customary closing conditions.

“Finance is moving in one direction. Continuous markets. Programmable money. Autonomous execution. Stablecoins are the settlement substrate. AI agents are the new participants. We see the inflection on our own platform: Krak shipped to 110 countries on Day 1, xStocks crossed $29 billion in cumulative volume in its first year, 1,900 B2B partners run on Payward’s shared infrastructure today,” said Arjun Sethi, Co-CEO of Payward. “Reap is the payments layer for what comes next.”

Reap has developed API-driven infrastructure that connects card networks, traditional payment rails and stablecoin-based settlement systems. Its platform supports corporate card programmes, cross-border payouts and treasury services, targeting businesses seeking faster and more transparent global money movement.

“Stablecoins in card payments are one of the largest real world applications today and Reap is proud to be leading the way. With the global stablecoin and crypto card market now exceeding $18 billion annually, Reap nearly tripled revenue and volumes in 2025, and expanded our licensing footprint from Asia to South America,” said Daren Guo, Co-Founder and CEO of Reap. 

The acquisition also expands Payward’s regulatory and geographic reach. Reap’s licences are expected to support Payward’s growth across Asia-Pacific and the Americas, while Payward’s existing regulatory footprint in Europe and the United States could help Reap extend services into additional international markets. The companies also signalled future expansion opportunities across the Middle East, North Africa and Latin America.