BlockBeats News, February 19th. According to CoinDesk, cryptocurrency exchange Kraken’s parent company Payward has announced the acquisition of token management platform Magna to further enhance its product lineup and pave the way for a potential listing plan. The transaction amount was not disclosed. After the acquisition, Magna will continue to operate independently, but its token lifecycle management tools will be integrated into Kraken’s product suite for institutional clients.
Magna primarily provides token vesting, distribution, and issuance management services to cryptocurrency project teams, currently serving over 160 clients, with a peak total value locked (TVL) on the platform reaching $60 billion by 2025.
This acquisition continues Kraken’s recent merger and acquisition strategy. The company has acquired the U.S. futures platform NinjaTrader ($1.5 billion), derivatives trading platform Small Exchange ($100 million), in-house trading firm Breakout, and tokenized stock issuance platform Backed Finance. In November 2025, Kraken also completed an $800 million financing round, reaching a company valuation of $20 billion.
