Reap plans Mexican peso stablecoin for 24/7 cross-border FX settlement
Payward-owned Reap, a Visa Principal Issuer Member, is adding a Mexican peso stablecoin and exploring won, yen, euro and Hong Kong dollar tokens for round-the-clock FX settlement.
Why it matters
If Reap ships a peso-denominated stablecoin through a Visa-backed programme, non-USD settlement would be available outside banking hours for payments that currently need correspondent banking, and Visa would extend its stablecoin reach into Latin American and Asian currencies. The Visa survey results show US consumer demand is gated on familiar safety features rather than the technology, and stablecoin awareness in the US is still low, which constrains the addressable market for such products.
Key facts
Reap is preparing to add a Mexican peso stablecoin to its card, cross-border payments and treasury products, founder Daren Guo told CoinDesk.
Reported by CoinDesk
Reap is exploring stablecoins pegged to the Hong Kong dollar, euro, won and yen, Daren Guo said in an email.
Reported by CoinDesk
Reap is pursuing the expansion through its global stablecoin partnership with Visa, which provides around-the-clock settlement for its card programs.
Reported by CoinDesk
Reap is owned by Kraken parent company Payward and is a Visa Principal Issuer Member in Hong Kong and Mexico.
Reported by CoinDesk
Reap can issue cards on its own bank identification numbers and says it can support partners in more than 100 markets.
100 marketsReported by CoinDesk
Visa's 'Money Travels 2026' study, conducted by Morning Consult from 24 February to 2 March, surveyed 2,192 US adults.
2,192 respondentsReported by BTC-ECHO
The global supply of US dollar stablecoins exceeds $295 billion, of which roughly $183.4 billion is Tether's USDT and just under $76 billion is Circle's USDC, and 56 percent of US respondents had never heard of stablecoins.
295,000,000,000 USDReported by BTC-ECHO
What happened
Reap, the Hong Kong-based fintech owned by Kraken parent Payward, is preparing to add a Mexican peso stablecoin to its card, cross-border payments and treasury products, founder Daren Guo told CoinDesk in an email. The company is also exploring stablecoins pegged to the Hong Kong dollar, euro, won and yen to support foreign exchange settlement outside banking hours, Guo said. Reap says it will do this through its global stablecoin partnership with Visa, which settles its card programs around the clock, and as a Visa Principal Issuer Member in Hong Kong and Mexico it can issue cards on its own bank identification numbers and support partners in more than 100 markets. Separately, BTC-ECHO reported on Visa's 'Money Travels 2026' survey, in which Morning Consult polled 2,192 US adults between 24 February and 2 March and found that 56 percent would use stablecoins if they carried bank-style protections, up from 36 percent without them, and that 56 percent of respondents had never heard of stablecoins. Neither outlet says when the peso token will ship, which issuers would back it, or what the Hong Kong dollar, euro, won and yen explorations amount to, so the timetable for Reap's wider non-USD stablecoin programme is unclear.
How the story developed
- First report
First report by CoinDesk
Why Payward-backed Reap is betting on non-USD stablecoins for 24/7 cross-border FX settlement
- Update
Reap founder Daren Guo says a Mexican peso stablecoin is being prepared
Guo told CoinDesk Reap is adding a peso stablecoin to card, cross-border payments and treasury products and is exploring Hong Kong dollar, euro, won and yen tokens for round-the-clock FX.
- Independent corroboration
Independently corroborated by BTC-ECHO
56 Prozent würden Stablecoins nutzen, wenn dieser Schutz greift
- Update
Morning Consult reports Visa survey results on stablecoin demand
2,192 US adults were polled between 24 February and 2 March; 56 percent would use stablecoins with bank-style protections, up from 36 percent, and 56 percent had never heard of stablecoins.
How coverage built up
Independent sources over time, counted the way the consensus panel counts them: a republication of a wire story does not move the line.
- 22 Sept 2026, 12:05 UTC: CoinDesk — 1 independent source, 1 reports
- 24 Sept 2026, 09:33 UTC: BTC-ECHO — 2 independent sources, 2 reports
Affected entities
Also mentioned: Kraken
Original sources
| Publisher | Report | Role | Published |
|---|---|---|---|
| CoinDesk Crypto media | Why Payward-backed Reap is betting on non-USD stablecoins for 24/7 cross-border FX settlement | Original | |
| BTC-ECHO Crypto media | 56 Prozent würden Stablecoins nutzen, wenn dieser Schutz greift | Independent |
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