Kraken Parent Acquires Asian Stablecoin Firm Reap for $600 Million: Bloomberg

In brief

• Kraken parent Payward Inc. agreed to pay $600 million for Reap Technologies, a Hong Kong-based stablecoin payments provider.
• The deal combines cash and stock, with Payward issuing shares at a $20 billion valuation, according to co-CEO Arjun Sethi.
• Reap specializes in cross-border…