Kraken’s $600 Million Reap Deal Makes Corporate Cards a Battleground

In a winner-take-most market, firms typically want to be the ones winning and taking the most. Stable coins are shaping up to be exactly that kind of market. On Wednesday (July 1), Payward , the parent company behind the crypto platform Kraken , completed its acquisition of Reap in a deal valued at up to $600 million, adding stablecoin-native card issuing, embedded payments, cross-border money movement and treasury-management infrastructure to Payward Services.