PANews reported on May 7th that, according to Bloomberg, cryptocurrency exchange Kraken is acquiring Asia-based stablecoin infrastructure company Reap for approximately $600 million. Reap focuses on stablecoin payments, fiat currency deposits and withdrawals, and enterprise-grade financial infrastructure services. This acquisition is seen as a significant step for Kraken to expand its Asian market and strengthen its stablecoin payment capabilities. Neither party has officially confirmed the details of the transaction.