Payward completes acquisition of Reap, adding stablecoin-native card issuance and payments infrastructure to expand regulated financial services globally

Payward is buying issuance, treasury, compliance, and card settlement, the layer that captures flow after stablecoin balances commoditize around USDT and USDC. Stripe paid $1.1B for Bridge in 2025, Rain is chasing Visa-card programs, and Kraken now has a way to plug Reap into Payward Services beside xStocks, custody, liquidity, and on/off-ramps. With USD-pegged stablecoin supply around $310B on DeFiLlama, the moat is the licensed corridor where those dollars get spent in APAC, Europe, and the US.

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