Payward, the parent company of crypto exchange Kraken, agrees to acquire Hong Kong-based stablecoin payments firm Reap Technologies in a $600 million deal. Multiple outlets report the acquisition is intended to expand Payward’s stablecoin and payments infrastructure, particularly in Asia, by adding Reap’s cross-border and business payments capabilities. Bloomberg and other coverage describe Reap as a provider focused on stablecoin-oriented payments services, which are used for transferring value across borders and for business transactions. Decrypt characterizes the transaction as Payward’s largest acquisition as it builds out its stablecoin infrastructure and related payments offerings in the region. CoinTelegraph adds that the move supports broader B2B payment features, including card issuance and stablecoin payment capabilities, as Payward develops a new business platform. The reported purchase price is $600 million, though one outlet frames it as up to that amount, indicating the potential for deal-structure components. The articles present the agreement as a step in Kraken’s owner’s strategy to grow its stablecoin-based payments business.