Payward, the parent company of crypto exchange Kraken, announced it has acquired token management platform Magna as part of its expansion strategy ahead of a potential initial public offering (IPO). The acquisition was disclosed on the exchange’s official blog on Feb. 18. Terms of the transaction were not publicly disclosed.
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Magna provides tooling for crypto projects to manage token vesting, claims, scheduled distributions, and related operational workflows across multiple blockchains. According to Payward, Magna has supported more than 160 clients and recorded a peak total value locked of $60 billion in 2025. The platform will continue to operate as a standalone service while teams begin integration work with Kraken’s broader suite of institutional products.
Kraken Expands Institutional Token Infrastructure with Magna
Payward framed the acquisition as a strategic step to build out a vertical stack of services beyond core trading infrastructure. Kraken has been adding products and services through acquisitions and internal development as it prepares for the transition to a public company. Magna’s technology is expected to bolster token lifecycle management capabilities offered to project issuers and institutional clients, spanning early-stage fundraising through distribution and liquidity operations.
Magna CEO Bruno Faviero said joining Kraken provides the company with access to institutional-grade infrastructure, deeper liquidity, and global distribution. The firm will initially focus on onboarding and foundational integrations before aligning products more directly with Kraken’s roadmap.
A Strategic Acquisition Ahead of IPO
The acquisition of Magna continues Kraken’s series of deals as it builds product breadth ahead of going public. In November 2025, Kraken confidentially filed for an IPO with the U.S. Securities and Exchange Commission (SEC) and subsequently released select 2025 financial results, a practice common among companies preparing to list.
Market observers view expanding infrastructure and services as part of broader efforts to strengthen Kraken’s institutional cryptocurrency offerings, in line with moves by other exchanges diversifying beyond spot trading.
Is There a Kraken Stock?
Kraken’s parent company, Payward, is privately held and not listed on public exchanges. Investors looking to follow developments or invest in its stock after the exchange’s IPO can find additional details through TipRanks’ private company center.
