The deal marks Kraken’s expansion into stablecoin and payments infrastructure in Asia amid growing crypto adoption.
Crypto exchange Kraken will acquire Hong Kong-based Reap Technologies in a $600 million deal to strengthen its stablecoin and payments business in Asia. The acquisition aims to expand Kraken’s infrastructure in the region, where demand for digital asset payments is rising.
Reap Technologies specializes in stablecoin-based payment solutions, aligning with Kraken’s push into broader financial services beyond trading. The move follows increased regulatory clarity in Hong Kong, which has positioned itself as a crypto hub.
The deal underscores Kraken’s strategic focus on Asia, where institutional and retail adoption of digital assets continues to grow. No immediate market reaction was reported.