Kraken parent Payward acquires tokenisation platform Magna

YM Lee

Summary

Payward said it is expanding infrastructure across the Kraken ecosystem through the acquisition of Magna, a tokenisation platform.
Kraken said the deal will enhance functions including on-chain and off-chain vesting, token claims, custody, escrow and staking.
Magna had more than 160 clients as of 2025 and up to $60 billion in TVL, while Payward’s 2025 adjusted revenue was $2.2 billion.

Payward, the parent company of crypto exchange Kraken, has acquired tokenisation platform Magna as it moves to expand its infrastructure.

According to Cointelegraph on the 18th (local time), Payward said it plans to acquire Magna and operate it as an independent platform within the Kraken ecosystem. Through the deal, Kraken plans to strengthen capabilities including on-chain and off-chain vesting, white-label token claims, custody, escrow workflows and specialised staking features.

Bruno Faviero, Magna’s chief executive officer (CEO), said: “Joining Kraken enables us to support existing and new clients with institutional-grade infrastructure, deeper liquidity and a global distribution network.”

Kraken said Magna had secured more than 160 clients as of 2025, with total value locked (TVL) reaching up to $60 billion. The acquisition is seen as an extension of Kraken’s recent business expansion. This month, Kraken completed an integration with ICE Chat and also took part as a sponsor of the so-called Trump Account programme promoted by US President Donald Trump.

Payward filed a confidential initial public offering (IPO) registration statement with the US Securities and Exchange Commission last November. Its 2025 adjusted revenue was tallied at $2.2 billion.

Over the course of 2025, Payward also made a series of acquisitions, including crypto-native trading firm Breakout, futures trading platform NinjaTrader, derivatives trading platform Small Exchange and software company Capitalize.