Kraken buys token vesting platform Magna, which hit peak TVL of $60 billion in 2025
Crypto exchange Kraken has acquired token management platform Magna, which handles vesting and asset allocations.Summary
Crypto exchange Kraken has acquired token management platform Magna, marking its sixth acquisition in the last year. Magna, launched in 2021, specializes in handling token vesting schedules, airdrops, and asset allocations, and reportedly reached a peak Total Value Locked (TVL) of $60 billion in 2025. Kraken intends for Magna to serve as an operational layer within its broader vision, offering tooling for onchain/offchain vesting and white-label token claims. This move aligns with a trend among competitors like Anchorage Digital and Coinbase acquiring token lifecycle management solutions. The acquisition comes as Kraken prepares for an IPO, having confidentially filed for registration after achieving a $20 billion valuation.
(Source：The Block)