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 to its suite of payments and treasury products, the company’s founder said, and is also evaluating tokens pegged to the Hong Kong dollar, euro, won and yen. The expansion is being pursued through a global stablecoin partnership with Visa, which provides network-level settlement for stablecoin activity while Reap handles regulated card issuance and related compliance functions. Reap holds Visa Principal Issuer Member licenses in Hong Kong and Mexico, which the company cites as a practical rationale for making the peso token its first local-currency offering. Founder Daren Guo said the Payward acquisition adds capabilities such as possible access to yield, tokenized equities and trading, and that Reap can issue cards on its own bank identification numbers and support partners across more than 100 markets. The company frames the move as a response to frictions in existing cross-border FX: public blockchains operate continuously, but global FX settlement typically depends on banking hours, correspondent banks and processes that can take days. Guo said cross-border transfers in emerging corridors can incur fees of 5% to 7%, and noted that nearly 99% of stablecoin payments today are denominated in U.S. dollars even when commercial activity occurs in local currencies. By developing non-USD stablecoins and integrating them into card, payout and treasury workflows, Reap aims to enable round-the-clock foreign exchange and reduce local-currency settlement costs and timing issues. Visa’s Asia-Pacific president, Stephen Karpin, described blockchain settlement as complementary to traditional banking infrastructure, saying stablecoins can reduce operational friction while maintaining interoperability with the broader financial system. Reap did not provide a timetable or identify potential stablecoin issuers for the additional currencies it is exploring. The company said it is integrating stablecoin settlement into a broader product suite that includes cards, cross-border payouts, treasury tools, and compliance and fraud controls; Reap also reported card and payments volume rose 33% year over year in the first half of 2026 after revenue and volume tripled in 2025.