Kraken acquires token manager Magna ahead of IPO

Major US-based crypto exchange Kraken has acquired Magna, a platform specializing in token distribution and management tools for digital asset companies. This acquisition, which was finalized last week, is Kraken's sixth in the past year as it prepares for a public listing, though financial terms were not disclosed. Magna, previously valued at $70 million, offers infrastructure like "Carta for Web3" that automates token allocation for web3 networks. Kraken's co-CEO, Arjun Sethi, stated the deal allows the exchange to engage with token creators earlier in their development. This move follows other significant acquisitions by Kraken, such as the $1.5 billion purchase of futures platform NinjaTrader, as the company moves closer to its anticipated IPO, following a confidential filing in November 2025.

(Source：Crypto Briefing)