According to Bloomberg, cryptocurrency exchange Kraken's parent company, Payward Inc., has agreed to acquire Hong Kong-based Reap Technologies for $600 million. Reap is a provider specializing in stablecoin cross-border payments and business payment services, and many 'U Cards' use Reap as their underlying service. According to Payward and Kraken Co-CEO Arjun Sethi, the acquisition will be paid in a combination of cash and stock, with Payward's stock issuance valued at $20 billion. This acquisition aims to further expand Kraken's business footprint in the Asian market. https://www.(wublock123.com)/news/news-60692