Overview
- Payward said it will acquire Hong Kong–based Reap for up to $600 million in cash and stock in a deal that pegs Payward’s equity value at $20 billion.
- The purchase adds card issuing, cross-border payouts, and stablecoin treasury tools to Payward Services, giving partners these features through a single API.
- Reap runs stablecoin-native payment rails that link card networks, bank transfers, and blockchain settlement, which helps businesses move money faster and with clearer tracking.
- Reap will keep its brand and leadership under CEO Daren Guo and will offer its card and payments stack to Payward’s partners while tapping Payward’s U.S. and EU licenses.
- The transaction requires regulatory approvals and other closing conditions, with both sides guiding to a second-half 2026 close as Payward continues an acquisition-led expansion that has included NinjaTrader, Bitnomial, and Backed.