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Kraken Buys Reap Technologies for $600M
Description
Krakens parent company, Payward, acquires Reap Technologies, a Hong Kong-based stablecoin payments firm, for $600 million, marking its first major infrastructure move in Asia. Reap, founded by Stripes former Asia-Pacific head and a former investment banker, specializes in cross-border business payments using stablecoins. This deal follows Paywards acquisition of Bitnomial, a US derivatives platform, in April, positioning Kraken to dominate global payments and derivatives markets.
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