Kraken acquires tokenization platform Magna ahead of potential IPO

The crypto exchange's parent company acquired several platforms in 2025 while confidentially filing for an initial public offering with the SEC.

Payward, the parent company of cryptocurrency exchange Kraken, has acquired tokenization platform Magna, expanding the company’s infrastructure.

Kraken said Wednesday the acquisition would allow Magna to operate “as a standalone platform, powered by” the crypto exchange. The company’s announcement said Kraken would use the platform for “onchain and offchain vesting, white-label token claims, custody and escrow workflows, specialized staking functionality” and other functions.

“Joining Kraken gives us the resources to support existing and new clients with institutional-grade infrastructure, deeper liquidity, and global distribution,” said Magna CEO Bruno Faviero.

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