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Payward, the parent company of exchange Kraken, announced today that it has acquired Magna, a leading token management platform that serves over 160 clients and obtained a peak total value locked of $60B in 2025.
What's the Scoop?
- Latest Acquisition: Payward will bring token management platform Magna into the
Kraken ecosystem with its latest acquisition. While the terms of this transaction remain undisclosed, Magna last raised a $15M seed round at a $70M valuation in September 2022. - Acquisition Tear: Payward (through Kraken) has been on a relentless buying spree. The Magna deal marks the group's sixth acquisition in just 12 months, including its at-the-time record-breaking $1.5B purchase of the U.S. futures platform NinjaTrader.
- Competitive Niche: Incubated by Y Combinator, Magna helps crypto-native teams to manage token vesting, claims, distributions, and related operational workflows. The sector appears to be a competitive niche, considering that Kraken competitor
Coinbase acquired token management startup Liquifi.
Excited to announce that @magna_digital is joining forces with @krakenfx !
— Bruno Faviero (@Bfaviero) February 18, 2026
Same Magna team, brand, product, and mission (helping protocols and communities!) operating as a unit within Kraken, with a roadmap turbocharged by Kraken's custody, OTC, exchange, token sale, on/off ramp…
