US EditionKraken Parent Acquires Token Management Company Ahead of Planned IPO Push
Kraken gains token-distribution and management tools to support crypto startups and enhance product offerings before its planned IPO, joining peers who went public in 2025.
- On Wednesday, Kraken announced it purchased Magna, a token management platform, in a deal Payward disclosed that closed on Friday with undisclosed terms.
- Preparing to go public, Kraken is building its product suite after filing confidentially for an IPO and releasing some 2025 financials, seeking Magna's token management tools, Arjun Sethi said.
- Magna, a Y Combinator winter 2022 graduate, was last valued at $70 million, serves over 160 clients, and manages token vesting, claims and distributions with a peak TVL of $60 billion in 2025.
- The deal positions Kraken to integrate Magna's tools into its institutional-facing product suite while Magna remains standalone, advancing Kraken's expansion beyond crypto trading amid rivals' moves.
- The move is the exchange's sixth deal over the past year, following the $1.5 billion NinjaTrader acquisition and Kraken's $800 million funding at a $20 billion valuation as peers IPOed in 2025.
17 Articles
17 Articles
Payward Acquires Magna to Expand Kraken Token Lifecycle Infrastructure
TLDR: Payward’s acquisition of Magna links token vesting and claims infrastructure directly into Kraken’s expanding product ecosystem. Magna will continue operating independently while its tools integrate with Kraken’s broader token issuance and distribution roadmap. The deal extends Kraken’s reach from trading into fundraising and long-term token lifecycle management services. Magna’s platform already supports over 160 projects with peak total…
Payward Acquires Magna to Expand Kraken Token Lifecycle Infrastructure Services
Payward, the parent company of Kraken, has acquired token management platform Magna to integrate comprehensive vesting and distribution tools into its financial suite. Payward announced the acquisition of Magna on February 18, 2026, marking its sixth major deal within the past year. Magna remains a standalone platform under the Kraken umbrella, providing crypto-native teams with […]
Payward Acquires Magna to Expand Kraken’s Token Infrastructure
Payward, the parent company of Kraken, has acquired token-operations provider Magna in a move aimed at expanding its infrastructure beyond trading and deeper into the lifecycle management of digital assets. Payward said Magna, which supports vesting, claims, distributions, and operational workflows across multiple blockchains, will continue to operate as a standalone platform while the companies integrate core infrastructure. Magna has become wi…
Kraken Acquires Token Manager Magna as Exchange Gears Up for IPO
Kraken has acquired token management platform Magna, the crypto exchange announced Wednesday, adding another piece to its institutional infrastructure ahead of an anticipated public market debut.The deal, executed through parent company Payward, closed last Friday. Terms were not disclosed. Magna was last valued at $70 million in its most recent funding round, according to PitchBook data cited by Fortune.What Magna DoesMagna helps crypto project…
Coverage Details
Bias Distribution
- 100% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
