Kraken-backed Reap eyes multi-currency stablecoins for round-the-clock FX settlement

Reap, a fintech firm backed by Kraken parent company Payward, is expanding its stablecoin strategy beyond US dollar-pegged tokens. The company is set to introduce a Mexican peso stablecoin and is actively exploring digital tokens tied to the Hong Kong dollar, euro, South Korean won, and Japanese yen. The move is aimed at enabling cross-border foreign exchange settlements outside traditional banking hours. By leveraging non-USD stablecoins, Reap seeks to address gaps in global FX markets that arise when conventional financial institutions are closed.