Why Payward-backed Reap is betting on non-USD stablecoins for 24/7 cross-border FX settlement
Reap is preparing to add a Mexican peso stablecoin and is exploring Hong Kong dollar, euro, won and yen tokens for foreign exchange outside banking hours.
Reap, a fintech platform and Visa Principal Issuer Member (VPIM), is preparing to add a Mexican peso stablecoin to its card, cross-border payments and treasury products, its founder told CoinDesk.
Hong Kong-based Reap is exploring tokens pegged to the Hong Kong dollar, the euro, the won and the yen, founder Daren Guo said in an email.
The company is pursuing the expansion through its global stablecoin partnership with Visa, which provides its card programs with around-the-clock settlement.
Reap’s plans suggest a potential use case for local-currency tokens, enabling companies to move money and manage foreign-echange exposure outside banking hours, rather than merely using stablecoins for crypto trading and dollar settlement.