Kraken parent acquires token management company ahead of planned IPO push

Kraken's parent company, Payward, has acquired token management platform Magna as the crypto exchange prepares for a potential public listing. Magna provides tools for crypto teams to manage token vesting, claims, and distributions, serving over 160 clients and reporting a peak TVL of $60 billion in 2025. The acquisition is part of Kraken's strategy to expand beyond being just an exchange, adding token lifecycle infrastructure to its product suite, particularly for institutional clients. Magna will remain a standalone platform while its tools are integrated into Kraken's offerings. This follows several other acquisitions by Kraken, including NinjaTrader and Small Exchange, and comes after the company raised $800 million in November at a $20 billion valuation.

(Source：CoinDesk)