TechFlow News, May 7: According to Bloomberg, Payward Inc., Kraken’s parent company, has agreed to acquire Hong Kong–based Reap Technologies for $600 million in cash and stock. Reap Technologies is a provider specializing in stablecoin-based cross-border and commercial payment services. Arjun Sethi, Co-CEO of Payward and Kraken, stated that the shares issued by Payward in this transaction are valued at $20 billion. The acquisition aims to expand Payward’s presence in the Asian market.
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