Reap adds peso stablecoin, eyes more local-currency tokens

Reap, the payments firm backed by Kraken parent Payward, is preparing to add a Mexican peso stablecoin and is exploring Hong Kong dollar, euro, won and yen tokens to support foreign-exchange settlement outside banking hours. The move targets 24/7 onchain FX settlement in local currencies rather than dollar-pegged stablecoins alone.

Reap, a Visa-listed partner, is positioning the multi-currency stablecoin stack as a route for cross-border payments that don't stop at market close. No issuer or launch timeline for the new tokens was disclosed.