In 2023, we ventured into licensing our infrastructure through APIs, enabling other businesses to build their desired solutions on our foundation. We collaborated with various projects, launched multiple card programs, and powered millions of transactions. So, where is Reap headed in 2024? Find out👇🏻
Reap
Information Technology & Services
Hong Kong, Hong Kong 12,077 followers
The future of financial connectivity and access
About us
Reap is a payment technology company that enables access and financial connectivity through innovation for companies of all sizes. We are committed to helping businesses orchestrate success by offering the best financial tools and technology that evolve with our customers and the market. Our card issuing API allows businesses to issue and curate their own credit card programs securely, providing seamless experiences for customers. Together with our expense management software, which combines global payout and our flagship Reap Visa Corporate Credit Card, we empower businesses to take control of their finances and streamline their operations. Reap is supported by an empowering group of investors, including Acorn Pacific Ventures, Arcadia Funds, HashKey Capital, Hustle Fund, Fresco Capital, Abacus Ventures and Payment Asia. The Company was founded in 2018 and has since expanded to a team of over 90, working across offices in eight countries.
- Website
-
https://reap.global/en-hk/
External link for Reap
- Industry
- Information Technology & Services
- Company size
- 51-200 employees
- Headquarters
- Hong Kong, Hong Kong
- Type
- Privately Held
- Founded
- 2018
- Specialties
- Payments, Financing, Fintech, Credit, Digital Transformation, Virtual Banking, Cash Flow, Working Capital, Growth, B2B, Financial Platform, Finance Solution, and Card Issuing API
Products
Locations
-
Primary
Get directions
One Taikoo Place, 979 King’s Road, Quarry Bay
Hong Kong, Hong Kong 00000, HK
-
Get directions
Singapore, SG
-
Get directions
KL, MY
-
Get directions
Sydney, AU
Employees at Reap
Updates
-
Governments around the world are taking a closer look at #Web3 regulations. For instance, the Hong Kong Monetary Authority (HKMA) recently released a consultation paper on regulating stablecoin issuers, specifically for #HongKong. What does Reap think about Web3 regulation? Tune in to our Head of Legal & Compliance, Darryl Wan's perspective👇🏻
-
Last night, the Hong Kong Monetary Authority (HKMA) published its conclusions on the fiat-referenced stablecoin (FRS) consultation held earlier this year. The consultation attracted over 100 submissions, including one from Reap. This progress marks a significant step towards establishing #HongKong as a leading #Web3 hub. We're excited to be part of this conversation and look forward to further collaboration with industry stakeholders to develop this dynamic space. Read below for a summary and thoughts from our Head of Legal & Compliance, Darryl Wan 👇
Last night Hong Kong Monetary Authority (HKMA) published its conclusions to its fiat-referenced stablecoin (FRS) consultation from earlier this year, which received over 100 response submissions including from Reap. We're excited about this development and can definitely see where HKMA is coming from on most of these issues. We'll continue to work closely with industry members to develop and build trust in this space together! 𝐓𝐢𝐦𝐞𝐥𝐢𝐧𝐞: introducing a bill to LegCo later this year 𝐖𝐡𝐨𝐬 𝐢𝐧 𝐬𝐜𝐨𝐩𝐞? - As a reminder from the consultation proposal, all fiat-reference stablecoin ("FRS") issuers who (i) issue an FRS in HK; (ii) issue a stablecoin referencing HKD; or (iii) actively market their issuance of FRS to the public of HK, should be licensed by HKMA. Consultation conclusions below: - "FRS is issued in HK" = will depend on the facts, including issuer's place of incorporation, location of operations, provision of subsequent customer service to FRS users, whether a HK bank account is used to process issuance and redemption requests. - "Actively market" = will depend on many variables including language used in marketing messages, whether message is targeted at HK residents, whether HK domain name is used. - FRS can only be offered by licensed HKMA issuers. HKMA in talks with relevant authorities to discuss allowing VAOTC service providers to offer FRS. - No "passporting" arrangements or mutual recognition for foreign issued stablecoins for the time being 𝐖𝐡𝐚𝐭 𝐝𝐨 𝐢𝐧-𝐬𝐜𝐨𝐩𝐞 𝐅𝐑𝐒 𝐢𝐬𝐬𝐮𝐞𝐫𝐬 𝐧𝐞𝐞𝐝 𝐭𝐨 𝐝𝐨? Just key highlights - Local incorporation with key management personnel in Hong Kong rule retained for FRS' deemed in scope - Minimum paid-up share capital of HKD 25 million or 1% (down from 2%) of par value of FRS circulation, whichever is higher - Redemption requests must be fulfilled within one business day Full conclusions here: https://lnkd.in/gJJqu4K6
-
At Reap, we are dedicated to enhancing the efficiency of money movement for businesses, enabling them to navigate financial systems with confidence. By partnering with Circle and using open money like #USDC, we are able to bridge the gap between traditional finance and digital assets, bringing this vision to reality. Learn how we do this 👉 https://lnkd.in/eYnc8Nvi
Many businesses struggle with access to traditional financial services, such as credit cards and bank accounts, hindering their ability to pay for business expenses. The payment solutions at their disposal are often slow, inefficient, cumbersome and involve unanticipated delays. Reap is a payment technology company that is using #USDC and the blockchain to enable thousands of businesses across the world to easily access financial services. By leveraging the speed, cost-effectiveness and accessibility benefits of open money like USDC, Reap is bringing improved financial operability for cross-border use cases, vendor payments, payroll and more. Read the full case study to learn more: https://lnkd.in/eYnc8Nvi
-
Reap will be at Blockchain.Rio Festival! In fact, we’ll be in Latin America for an entire month! The Reap team will be meeting familiar faces as well as new ones to discuss cross-border #payments, #card issuing, and how we can make your money work for you. Agenda: Brazil 🇧🇷 July 13-21: Sao Paulo July 21-29: Rio de Jainero for Blockchain Rio Festival Mexico 🇲🇽 July 29-Aug 6: Mexico City Aug 6-Aug 10: Monterrey If you’re interested in catching us in person, this is the best time. Connect with our team to set up a meeting: Daren Guo, Felix Chung, Felipe Lozano Landinez, Justin Keung Nos vemos pronto 👋🏻
-
-
The Reap team is at EthCC 🇧🇪 Connect with our team to discuss Web2 and #Web3 #payments, card issuing, and all things money movement 👉🏻 Gary L., Maxwell Li, Felix Chung, Pepi Camacho, and Charlie Wang ➡️ EthCC 🇧🇪
-
-
Should a transaction be authorised when a card is swiped? 💳 Different transaction models determine how this decision is made, based on who holds the source of truth for a card's balance. Choosing the right authorisation model is a key step when launching your own #cardprogram. At Reap, we offer two major types of authorisation models: Standard Authorisation and Real-Time Authorisation. Learn more: https://lnkd.in/gGiUvUgx
-
-
Why is Reap dedicated to enhancing efficiency in borderless money movement? To begin with, it forms a core part of our customers' needs and ambitions. Our Co-Founder, Kevin Kang, explains why 👇🏻
-
Last week, Reap brought together teams from all around the world to celebrate our six-year anniversary ✨ It was a fantastic occasion for our teams to bond and strengthen our camaraderie as we prepare for our upcoming milestones. Reap has experienced tremendous growth over the past six years, and as we continue to expand, so does our team. If you're excited to be a part of our growth, check out our open roles across product, engineering, growth, and more: https://lnkd.in/d7Sf8Hbc
-
-
Next stop: EthCC in Brussels! 🇧🇪 The Reap team will be on the ground, and we're excited to meet you. Connect with us to arrange an in-person meeting 👇🏻 Gary L. Felix Chung Pepi Camacho Maxwell Li Charlie Wang See you in a week 👋🏻