Reap Acquired by Payward | Financial Services M&A Deal

Payward has acquired Reap, a payments processing business in Hong Kong, for $600 million. Reap provides card issuance infrastructure and stablecoin payments capabilities, integrating card networks, banking rails, and blockchains through a programmable API that supports cross-border settlement in stablecoins. Payward acquisitions add a payments layer to its existing crypto trading, custody, tokenized assets, and derivatives platform, enabling customers to embed card issuance, cross-border payments, and stablecoin treasury services. The strategic acquisition is structured as a platform acquisition, with Reap expected to operate as a stand-alone platform after close and maintain its leadership and go-to-market approach. The financial services M&A deal is announced to close in the second half of the year and is designed to accelerate Payward’s Asia-Pacific expansion and broader reach into the Middle East, North Africa, and Latin America.