Why Payward-funded Reap isn't betting USD stablecoin to facilitate 24/7 cross-border FX settlement

The layout of Reap shows that the native stablecoin is expected to bring new application scenarios: businesses can complete capital mobilization and hedge exchange rate risks outside banking hours, rather than just using blockchain for cryptocurrency transactions and settlement in dollars.

Guo said that the demand for non-USD stablecoin comes from the market itself and Reap's strategic focus, especially when customers want a more local, lower cost experience.

Reap already holds a regulated card issuing license (VPIM) in both Hong Kong and Mexico , so the first step for Mexico is to issue token pesos. Guo also revealed that the company was considering launching the Hong Kong dollar, euro, korean and Japanese yen stablecoin , which would be used around-the-clock for foreign exchange trading on on-chain , but he did not give any specific timetable or list of future issuers.

Reap is reportedly integrating stablecoin settlement into a more comprehensive suite of products covering bank card , cross-border payments, money management tools and compliance and anti-fraud controls. Guo said that in the first half of 2026, Reap's card business and payment trading volume grew by 33% year over year compared to 2025 when the company had already doubled its revenue with trading volume .

Guo further explained that Visa's stablecoin business is mainly conducted at the online level, whereas Reap handles regulated issuance of cards including customer due diligence, banking partnerships and cardholder compliance.

Visa's Asia Pacific president Stephen Karpin said that blockchain is not seen as a replacement for traditional payment systems.