Kraken has acquired Magna, a token management platform. Payward, Kraken’s parent company, did not reveal the size of the deal. Magna will continue to operate as a standalone platform under Payward.
This acquisition accelerates Kraken’s evolution into a platform where issuers, builders, and investors can rely on institutional-grade infrastructure from inception through scale, said Calvin Leyon, Kraken’s head of on-chain. Moving forward, the exchange will feature a fully verticalised product suite.
The timing followed remarks by Kraken co-CEO Arjun Sethi about additional deals in the pipeline ahead of Kraken’s planned IPO. Magna’s platform helps crypto companies manage their stablecoins and other cryptocurrencies and will remain standalone as it joins Kraken.
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