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About Reap
Reap is a Web3 payment infrastructure that helps businesses spend and move money across borders. Its core product is a corporate card and payment platform, where companies can fund accounts with stablecoins like USDC or USDT, then make payments in local fiat currencies to suppliers or employees worldwide. The platform also includes expense management and treasury tools, letting users manage approvals, track spending, and hold balances across multiple blockchains.
Reap's key value proposition is bridging crypto assets with traditional financial systems. It supports multiple networks (Ethereum, Polygon, Solana, TRON, and now Hyperliquid) and payment rails (SWIFT, SEPA, FPS, etc.), so businesses can keep funds in stablecoins while paying out in fiat. This solves a common pain point: previously, companies had to convert crypto to fiat through exchanges or OTC desks, which was slow, costly, and operationally complex. Reap removes that friction by offering a regulated, licensed platform.
In the past six months (Feb–Aug 2026), Reap added support for Hyperliquid network for USDC deposits, making it easier for users of that chain to fund their accounts directly. This follows Hyperliquid's shift toward USDC as its primary stablecoin in May 2026, which saw its stablecoin supply grow significantly. Reap's expansion to Hyperliquid reflects its strategy of supporting emerging chains where crypto-native businesses hold liquidity.
No major negative events were reported in the available information.
Founded in 2018 in Hong Kong, Reap initially focused on corporate card issuance and payment processing, gradually building a stablecoin-native infrastructure. In 2021, it completed a $4.5 million seed round led by Global Founders Capital, marking early validation of its cross-border payment model.
A significant milestone came in 2025 when Reap launched its stablecoin-based card issuing and payment platform, enabling businesses to settle in USDC/USDT while recipients receive fiat. This positioned Reap as a key player in the Web3 payment layer, processing billions in transaction volume.
The most transformative event occurred in May 2026, when Kraken's parent company Payward acquired Reap for up to $600 million. This acquisition integrated Reap's stablecoin payment infrastructure into Kraken's broader ecosystem, expanding its regulatory footprint across APAC, Europe, and the Americas. It validated the strategic importance of stablecoin rails in mainstream finance and solidified Reap's role as a foundational infrastructure provider for the emerging on-chain economy.
In the past six months, Reap's major progress: 1) In May 2026, Payward (Kraken's parent) announced and completed its acquisition of Reap, integrating its stablecoin-native card issuing and global payments infrastructure into the B2B platform Payward Services; 2) The same month, Reap became a Visa Principal Member in Mexico, becoming one of the few stablecoin payment companies holding Visa principal licenses in both Asia and the Americas, and obtained a Money Transmitter Registry in Mexico, planning to use Mexico as its cross-border payments hub for the Americas; 3) In July-August 2026, Reap Embedded Finance launched Reap Sentry (managed card fraud risk) and Reap Rewards (API-enabled benefits layer, initially with Priority Pass lounge access), plus a Dispute API and programmatic card controls.
Official future focus: leveraging Payward's global liquidity and regulatory footprint to accelerate expansion in APAC and the Americas; continuing to deepen stablecoin settlement, embedded card issuance, and cross-border payment infrastructure, covering next-generation use cases such as agentic payments; targeting ~250,000 new card users in Mexico and opening new corridors like China.
Co-founders: Kevin Kang and Daren Guo.
Kevin Kang: Co-founder at Reap, oversees operations and strategic growth. Background in investment banking at Scotiabank (one of Canada's Big Five banks). Holds BCom from University of Toronto. Previously worked at PwC and TD. Focuses on stablecoin-enabled payments, fintech, and Web3 mass adoption.
Daren Guo: Co-founder at Reap, leads growth and innovation. Former employee #90 at Stripe, helped scale APAC operations. MBA from INSEAD, BSc from University of Waterloo. Experienced in payments and digital assets. Reap has raised $46M in total funding.
Recent team change at Reap: In April 2026, Mindaugas Savickas joined Reap as Head of Marketing. With over 14 years of marketing experience, he previously served as CMO or co-founder at several Web3 projects, including DeData, Ruby Protocol, and Sukhavati. He will lead Reap's global marketing strategy to drive brand growth.