Kraken Parent Company Acquires $60B Token Vesting Platform 'Magna'
Y Combinator-backed Magna will continue operating as a standalone platform, powered by Kraken
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…
Jack Inabinet
Jack Inabinet is a Senior Analyst with a passion for exploring the bleeding edge of crypto and finance. Prior to joining Bankless, Jack worked as an analyst at HAL Real Estate where he conducted market research and financial analysis for commercial real estate development and acquisition activities in the Seattle region. He graduated from the University of Washington’s Michael G. Foster School of Business.
