Reap
Reap builds stablecoin-native financial infrastructure — including Visa corporate cards, cross-border B2B payments, and a Card-as-a-Service API — for Web3 and globally distributed businesses needing to spend digital-asset treasuries on real-world expenses.
- Company typePrivate
- Founded2018
- HeadquartersHong Kong, Hong Kong SAR China
- Headcount251–500
- GTM typeB2B
- OfferingSoftware
What Reap does
Reap is a Hong Kong-headquartered fintech that builds stablecoin-native financial infrastructure for Web3 and globally distributed businesses. Its platform combines a corporate Visa credit card (Reap Card) backed 1:1 by USDC/USDT or fiat collateral, cross-border B2B payments (Reap Pay) settling USDC/USDT-funded transfers into 18+ fiat currencies across 220+ countries via SWIFT, FPS, SEPA, and FAST, expense management with AI-driven receipt extraction, and a Cards-as-a-Service (Card Issuing) API for partners to launch branded Visa programs. The company operates as a Visa Principal Issuer directly in Hong Kong and Mexico, holds a Money Transmitter Registry in Mexico, and is licensed in Singapore — a regulatory footprint that lets it collapse issuer, processor, network, manufacturer, and risk roles into a single integrated provider with real-time on-chain collateral authorization.
Reap monetizes primarily through transaction-level economics: interchange and FX margin on card spend, per-transaction fees on cross-border and local payouts, managed-services pricing for CaaS programs, and usage-based API monetization for embedded finance. Cards are issued free to end users, with no annual fees. Distribution combines self-serve onboarding via dashboard.reap.global with consultative enterprise sales (discovery calls) for Card Issuing, Payment API, and larger Reap Direct accounts; channel partners (e.g., Fincra for Africa) and OEM/white-label CaaS deployments extend reach into Web3 issuers, PSPs, and emerging-market businesses. Customers include Travala (1B+ USD processed, 5x faster payments), KAST, Tevau, Cypher, RedotPay, Stables Money, EtherFi, and Fincra, among 20,000+ companies globally.
The company was founded in 2018 by Daren Guo, raised a $40M Series A in October 2022 (total funding $46M), reached profitability in 2025 with revenue and volumes nearly tripling, expanded into Mexico in 2026, and signed a definitive agreement in May 2026 to be acquired by Payward, Inc. (Kraken's parent) for up to $600M in cash and stock, expected to close H2 2026 with Reap operating as a standalone entity.
Reap firmographics
Firmographics- Name
- Reap
- Legal name
- Reap Technologies Limited
- Website
- https://reap.global
- Company type
- Private
- Founded year
- 2018
- Operating status
- Acquired
- Headcount range
- 251–500 employees
- Short description
- Reap builds stablecoin-native financial infrastructure — including Visa corporate cards, cross-border B2B payments, and a Card-as-a-Service API — for Web3 and globally distributed businesses needing to spend digital-asset treasuries on real-world expenses.
- Ownership category
- akta.pro rank
Reap industry classification
Industry- Product category
- Stablecoin Payment Infrastructure
- NAICS
- Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232), Credit Card Issuing (522210)
- SIC
- Finance Services (6199)
- akta.pro primary industry
- Multi-Currency Accounts, Wallets & IBAN Services (FSAMAIAG)
- akta.pro secondary industries
- Payments, Remittances & Merchant Acceptance (checkout, invoicing, payroll) (FSAPAEAE), Crypto Remittance & Cross-Border Money Transfer Providers (FSADAIAD)
Keywords
Where Reap is headquartered
LocationHeadquarters
- HQ city
- Hong Kong
- HQ country
- Hong Kong SAR China
- HQ region
- Asia
Offices4 records
Markets served
Reap business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure, Supply Chain, Others
Revenue model
- Cross-border and local payment processing fees: Revenue from funding, FX conversion, and payment execution when businesses send USDC/USDT-funded payouts to 220+ countries and 18+ fiat currencies via SWIFT, FPS, SEPA, FAST. Pricing varies by funding method, payment type, and currency pair.
- Interchange and card transaction economics: Interchange and FX margin on corporate Visa card spend; cards themselves are free with no annual fees, monetizing instead on per-transaction economics.
- Card-as-a-Service (Card Issuing) platform fees: Revenue from B2B clients using Reap's CaaS API to launch their own branded card programs, including program management, risk, card design/manufacturing, and logistics.
- Embedded finance / API access (Payment API and Card Issuing API): Developer-facing APIs for automated global fiat payouts at scale and card program lifecycle; monetized as usage-based pricing tied to payment volume and program activity.
- Reap Direct (business account / expense management): Revenue from the unified stablecoin-enabled business account bundling payments, corporate cards, and expense management for Web3 companies.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Pay-as-you-go | Reap Corporate Card: free issuance, no annual fees on physical or virtual cards |
| Transaction based/ take rate | Pay-as-you-go | Reap Pay: cross-border and local payouts priced by funding method, payment type, and currencies |
| Other | Multi-year contract | Card Issuing / CaaS: quote-based enterprise pricing for branded card programs |
| Hybrid | Monthly | Reap Direct: self-serve sign-up for business accounts with usage-based monetization |
Go-to-market motion1 record
Distribution channels5 records
Marketing channels6 records
Reap product offering
Product offeringCore offering
Reap operates a stablecoin-native financial infrastructure platform anchored by Visa Principal Issuer licenses in Hong Kong and Mexico. It provides a unified business account (Reap Direct) that bundles stablecoin-collateralized Visa corporate credit cards, cross-border B2B payment rails to 220+ countries in 18+ fiat currencies, and AI-driven expense management, alongside a Card-as-a-Service API and Payment API that allow partners to launch branded Visa card programs and automate global stablecoin-funded payouts.
Product overview
Reap operates as a unified stablecoin-native financial infrastructure platform rather than a single-point product, with Reap Direct serving as the core business account that brings together its corporate card, cross-border payments, and expense management modules. Layered on top of this core platform are two distinct API offerings: Card Issuing (Cards-as-a-Service) for partners wanting to launch their own branded Visa card programs, and a Payment API for programmatic global fiat payouts funded by stablecoins. Reap also lists Agentic Payments as a forward-looking module for AI-agent-initiated transactions. The portfolio is tightly integrated: Reap Direct bundles Reap Card (corporate credit) and Reap Pay (international payments) under one dashboard, while the Card Issuing and Payment APIs expose the same underlying stablecoin-funded rails to external developers, all anchored by Reap's status as a Visa Principal Issuer in Hong Kong and Mexico.
Differentiator
Problem solved
Functional benefit
Brands
- Reap Direct: The business account for stablecoin-enabled businesses; combines treasury, cards, payments, and team management under one product.
- Reap Card
- Reap Pay
Products and services
- Reap Direct Flagship business account for stablecoin-enabled businesses that bundles Reap Card corporate credit, Reap Pay cross-border payments, and Expense Management into a single dashboard for hybrid fiat-and-stablecoin treasury operations.
- Payment API Automated, API-driven global fiat payout service funded directly from on-chain stablecoin treasuries, enabling partners to scale cross-border B2B payouts programmatically.
- Agentic Payments Product module that enables AI agents to transact on behalf of individuals and businesses, designed to support the emerging agentic commerce ecosystem on top of Reap's stablecoin payment rails.
Quantifiable outcome
- Travala processed 1B+ USD with Reap; settled payments in 1 day vs 3 days with traditional methods; 1000+ card transactions; 2% FX fees saved; 5X faster payments.
- +3 more outcomes
Companies that use Reap
Customer profileNamed customers8 records
Ideal customer profiles3 records
Reap technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration18 records
AI capability9 records
Feature7 records
Reap partnerships and signals
Strategic signalPartnerships
Ten partnerships are on record, tiered core, flagship and minor.
- SumsubcorePartnership to automate KYC/AML onboarding as Reap expands beyond Asia-Pacific into additional international markets. Leverages Sumsub's Reusable KYC and platform supporting 14,000+ identity document types from 220 countries.
- Payward (Kraken parent)flagshipDefinitive agreement for Payward to acquire Reap Technologies Holdings for up to $600 million in cash and stock (valued at $20B Payward equity). Transaction expected to close H2 2026; Reap will continue operating as a standalone entity under founder Daren Guo with access to Payward's global liquidity and regulatory licenses.
- FincracoreMoU to combine Fincra's African payment rails with Reap's stablecoin-enabled infrastructure for Card-as-a-Service, programmable spend controls, and cross-border payments between Africa and Asia. Nigeria is the launch market for Reap's African expansion.
- CirclecoreShown on Reap's homepage under 'Built with the best in business' alongside Solana, Visa, and Fireblocks. Circle is a peer-to-peer payments technology company supporting stablecoin-native flows on the platform.
- SolanacoreReap supports funding payments and card collateral with USDC/USDT on Solana (alongside Ethereum, Polygon PoS, TRON); Solana is featured in the homepage partner logo strip.
- FireblockscoreFeatured in Reap's homepage 'Built with the best in business' partner logo strip; supports secure custody and movement of digital assets underlying Reap's stablecoin infrastructure.
- VisaflagshipReap is a Visa Principal Issuer in both Hong Kong and Mexico, enabling it to issue Visa corporate credit cards and run its Card-as-a-Service program. Visa is also the card network rail.
- ThalesminorNew fulfillment provider for physical card shipments; aligned with stricter address validation requirements, prompting mandatory ZONE field for shipments to CA, US, IN, MX, and AE.
- ChainalysiscoreIntegrated for real-time risk detection and AML/sanctions screening on digital currency payments and collateral; positioned as core compliance infrastructure.
- FeaturespacecoreEnabled for real-time fraud prevention alongside Visa Risk Manager, 3D Secure, and two-factor authentication.
Scale indicators11 records
Recent moves8 records
Expansion highlights8 records
Reap competitors and assessment
Company assessmentDirect peers
- Rain: Rain is a Visa-principal-issued crypto card and on/off-ramp platform focused on emerging markets and stablecoin spending; it is the most directly comparable peer to Reap given shared Visa Principal Issuer status, stablecoin-funded card programs, and focus on Web3-native businesses.
- Wirex: Wirex is a crypto-friendly payments platform offering Visa-branded multi-currency cards and a payments app with stablecoin support; it competes directly with Reap Card and Reap Pay in the Web3 business-card and cross-border-payments category.
- Alchemy Pay: Alchemy Pay provides crypto on-ramp, card issuing, and cross-border payment services across 170+ countries, targeting both Web3 firms and merchants; it overlaps Reap's Card-as-a-Service and cross-border rails with a similar global emerging-markets focus.
- RedotPay: RedotPay is a stablecoin-based crypto card and payments platform serving users in emerging markets; it is both a Reap customer (via Card Issuing) and a direct competitor building its own branded stablecoin-funded card program.
- Paxos: Paxos issues regulated stablecoins and provides crypto brokerage, payments, and settlement APIs; it is comparable to Reap at the infrastructure layer, particularly for partners building stablecoin-native treasury and payout flows.
- BitPay: BitPay is one of the longest-established crypto payments processors, offering merchant card acceptance and crypto-funded prepaid cards; it overlaps Reap's cross-border B2B payment and crypto-card value proposition for businesses.
Emerging players
- Bridge (Stripe): Bridge is a stablecoin API platform acquired by Stripe that enables businesses to send, receive, and store stablecoins; post-acquisition it competes with Reap's Payment API and on-chain treasury rails from within the Stripe distribution umbrella.
Broad incumbents
- Circle: Circle is the issuer of USDC and a Reap technology partner; it is also a broad incumbent expanding into payments infrastructure, cross-border, and tokenized funds, making it both an enabler and a competing layer above Reap's rails.
- Stripe: Stripe is a global payments incumbent expanding aggressively into stablecoin acceptance and payouts (including via Bridge); it represents both a distribution threat to Reap's Payment API and a validation of the stablecoin-payments thesis.
- Crypto.com: Crypto.com operates a global crypto exchange plus an established Visa card program and payments app for retail and business users; it overlaps Reap's stablecoin-funded card and payment proposition at a much larger scale and broader consumer base.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks7 records
Key highlights7 records
Customer concentration
Reap social profiles
Digital presenceReap compliance and trust
Trust signalCompliance4 records
Reap financial estimates
Financial estimateRevenue estimate
Valuation estimate
Reap leadership team
Management profileNumber of profiles
Profiles2 records
Reap funding detail
Funding detailFunding overview
Funding rounds5 records
Investors12 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Reap M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Reap
What does Reap do?
Reap operates a stablecoin-native financial infrastructure platform anchored by Visa Principal Issuer licenses in Hong Kong and Mexico. It provides a unified business account (Reap Direct) that bundles stablecoin-collateralized Visa corporate credit cards, cross-border B2B payment rails to 220+ countries in 18+ fiat currencies, and AI-driven expense management, alongside a Card-as-a-Service API and Payment API that allow partners to launch branded Visa card programs and automate global stablecoin-funded payouts.
Is Reap a public or private company?
Reap is a private company. It is classified as venture growth investor backed and is currently acquired.
When was Reap founded?
Reap was founded in 2018. It employs 251 to 500 people.
Where is Reap based?
Reap is headquartered in Hong Kong, Hong Kong SAR China, in the Asia region.
How does Reap make money?
Five revenue lines are on record. Cross-border and local payment processing fees are the primary driver. The others are interchange and card transaction economics, card-as-a-Service (Card Issuing) platform fees, embedded finance / API access (Payment API and Card Issuing API) and reap Direct (business account / expense management).
Who are Reap's main competitors?
Direct peers on record are Rain, Wirex, Alchemy Pay, RedotPay, Paxos and BitPay. Bridge (Stripe) is listed as an emerging player. Broad incumbents are Circle, Stripe and Crypto.com.
Does Reap have an API?
Yes. Reap offers developer-facing APIs for Card Issuing (CaaS) and a Payment API. The Card Issuing API supports the full card lifecycle: card creation, configuration, transaction authorization, real-time controls, webhooks (POST/GET/DELETE /webhooks), card shipping (POST /cards/{cardId}/ship and POST /cards/bulk-ship), and collateral management. APIs are RESTful with sandbox testing, dedicated technical support, and developer-first integration. The Payment API enables automated global fiat payouts at scale funded by stablecoins; access is gated via a sales contact ("Talk to us" to access the documents). Authentication is via API keys/tokens (scoped tokens released May 2026), and a public documentation portal is hosted at reap.readme.io with an API Reference, Changelog, Quick Start Guide, and Sandbox environment. Developer documentation is at reap.readme.io/docs/getting-started.
What industry is Reap in?
Reap's product category is Stablecoin Payment Infrastructure. Its primary akta.pro industry code is FSAMAIAG, Multi-Currency Accounts, Wallets & IBAN Services, with a secondary code of FSAPAEAE, Payments, Remittances & Merchant Acceptance (checkout, invoicing, payroll). Its NAICS code is 52232 and its SIC code is 6199.