Why Payward-backed Reap is betting on non-USD stablecoins for 24/7 cross-border FX 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.

“Demand for non-USD stablecoins is driven by market demand and Reap’s priorities, especially as clients aim to get a more localized and cost-efficient experience,” Guo said.

Reap holds VPIM licenses in Hong Kong and Mexico, making the peso token a practical first addition. It is also considering Hong Kong dollar, euro, won and yen stablecoins for onchain 24/7 foreign exchange, Guo said, without providing a rollout timetable or naming the prospective issuers.

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’s card and payments volume rose 33% year over year in the first half of 2026, after revenue and volume tripled in 2025, Guo said.

Visa’s stablecoin work operates at the network level, while Reap handles the regulated card-issuing business, including customer checks, bank relationships and cardholder compliance, Guo said.

Visa does not view blockchain settlement as a replacement for conventional payment systems, according to Stephen Karpin, the company’s Asia-Pacific president.