Hong Kong Fintech Startup Reap Raises $40 Million For Web3 Payments

Reap, a digital payment company based in Hong Kong, has netted $40 million in a funding round aimed at developing infrastructure to help facilitate payments between Web3 projects and traditional businesses.

Reap said the proceeds will be used to set up regional hubs throughout Asia, North American and Europe, and double its team by the end of next year. Meanwhile, the company will continue to build Web3 infrastructure in collaboration with cryptocurrency firms to help provide them access to traditional merchants and physical services.