Kraken just planted a flag in Asia, and it cost the parent company $600 million to do it. Payward, the holding company behind the U.S. crypto exchange Kraken, agreed Wednesday to acquire Hong Kong-based stablecoin payments firm Reap Technologies in a cash-and-stock deal that values Payward at roughly $20 billion. It is Kraken's first infrastructure acquisition in the region, and it is not subtle.
What Reap Actually Does
Reap was founded in Hong Kong by Daren Guo, a f...
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