Payment Expert’s Fintech Unwrapped delivers the latest and developing news that has shaped the sector over the course of the week.
This week, Kraken parent company Payward announced the acquisition of stablecoin payment firm Reap, further increasing merger and acquisition activity for stablecoin companies.
Also this week, Anthropic has partnered with FIS to automate money laundering assessments, Currensea is expanding in Europe to offer its loyalty debit cards to retailers and customers, ClearBank has opened the doors for greater access to SEPA, and more merchants across the world now have the ability to accept stablecoin payments.
Kraken acquires Reap to tap into Asia’s stablecoin potential
Payward, parent company of US-based cryptocurrency exchange Kraken, has agreed to acquire stablecoin payment infrastructure firm Reap for $600m.
The acquisition will enable Kraken to support its expansion into B2B payments and card issuance for stablecoins. Reap has built cross-border payments stacks that connect to traditional payment rails to support businesses moving money globally.
Reap’s regulatory licenses across Asia-Pacific and the Americas will also complement Payward’s European Union (EU) and US licenses, opening new avenues for Reap in Europe and US markets, while committing to Kraken’s compliance strategy.
Arjun Sethi, Co-CEO of Payward, said: “Reap is the payments layer for what comes next. Card networks, banking rails, and blockchains on a single API, settling in stablecoins. The infrastructure for that world has to be open, regulated, and operational at global scale on Day 1. The next financial product will not be assembled. It will be deployed.”
Payward’s acquisition of Reap is the latest merger & acquisition (M&A) activity for stablecoin companies in the past year. Stripe acquired Bridge for $1.1bn in 2024, and more recently, BVNK was acquired by Mastercard for $1.8bn in March 2026.
Anthropic’s AI services to stamp out money laundering
FIS is aiming to bring Anthropic’s AI services to banking in a new partnership focused on mitigating money laundering and high-risk transactions.
The financial technology company will adopt Anthropic’s Financial Crimes AI Agent tool to evaluate activity of FIS’ banking clients to assess high-risk cases for investigative reviews. The agent report will then be sent to the bank’s AML teams for review. BMO and Amalgamated Bank are among the first adopters.
Anthropic’s AI team and forward-deployed engineers (FDEs) will embed within FIS to co-design the Financial Crimes AI Agent and transfer knowledge to FIS to build and scale additional agents over time.
Stephanie Ferris, CEO and President of FIS, said: “Every bank in the world wants AI that acts, not just assists. The future is about a trusted provider who manages the data, who governs the agents, and who stands between your customers and the AI making decisions about their money. FIS built the architecture that orchestrates this intelligence.
“Anthropic is a leading AI provider, Claude is the reasoning engine inside, and the Financial Crimes AI Agent is the first proof of what this architecture can deliver for financial institutions that are ready to become the agent-first bank of the future. It’s a new era in banking.”
Currensea kickstarts EU expansion with the Netherlands
Currensea announced its European expansion on 6 May after receiving an operating licence in the Netherlands.
Operating under subsidiary Currensea Europe B.V, the company will debit cards to customers across the European Economic Area, working alongside airlines, hotel groups and other retail companies to enhance their loyalty offerings.
Currensea has hired Leon Muis to serve as Head of Europe and CEO of Currensea Europe B.V., as well as Simone Aurighi being appointed as Chief Compliance & Risk Officer and Member of the Management Board.
James Lynn, CEO and Co-Founder of Currensea, said: “ This licence enables us to build on our success in the UK and bring our award-winning, multi-bank debit rewards offering to customers across the continent, operating out of one of the EU’s leading fintech hubs.
“We will soon be announcing new partnerships with global companies in travel and hospitality that will allow underserved European consumers to earn rewards from their favourite brands through their daily debit spend, with no need to change their existing bank account.”
ClearBank provides Fiat Republic with SEPA access
ClearBank struck a new partnership with Fiat Republic to enable its customers greater access to SEPA payments across Europe.
Leveraging ClearBank’s new SEPA Indirect product, Fiat Republic will be able to offer their customers their own virtual IBANs to operate under their own BICs, allowing them to retain their brand and customer experience while accessing SEPA payments.
ClearBank manages scheme access and settlement, removing complexity as clients can perform euro payments with enhanced reliability and an improved cross-border payments experience.
The launch is the first of several new products ClearBank plans to introduce in Europe this year, supporting its broader European growth strategy.
Tristan Kirchner, CEO of ClearBank Europe, said: “Access to reliable euro payments shouldn’t be a barrier to growth. By enabling Fiat Republic access to SEPA Indirect, we’re helping their customers benefit from faster, safer and more resilient payments across Europe without the traditional complexity.
New merchants gain access to stablecoin payment acceptance
Stablecoin payment acceptance will become available to over 1,000 Yuno customers in the world after a partnership with Triple-A.
The partnership enables stablecoin payment acceptance to merchants by connecting them to a single API which provides access to 1,000 payment methods, payment service providers, and fraud solutions, without added operational complexity.
Triple-A’s regulated stablecoin infrastructure will be integrated into Yuno’s infrastructure to provide merchants with a secure method of accepting stablecoins.
Eric Barbier, Founder and CEO of Triple-A, said: “With our regulated framework, which is licensed across key markets including the United States, Europe, and Singapore, and Yuno’s global platform, we’re making it simple for businesses to accept digital currencies in a secure, compliant way.
Juan Pablo Ortega, CEO and Founder of Yuno, said: “As stablecoins evolve from an emerging technology into a practical payment method for digital-first businesses and global commerce, demand continues to grow.”
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