By Staff Writer
Payward, the financial infrastructure group behind crypto exchange Kraken, has acquired token management platform Magna, expanding its footprint beyond exchange services into the operational plumbing that supports token projects.
Magna provides tooling used by crypto teams to manage token vesting schedules, claims, distributions, and other back-office workflows. The platform has become a key service provider for projects managing large token ecosystems across multiple blockchains.
Financial terms were not disclosed. But Kraken said the deal is intended to broaden its product offering beyond trading and liquidity, moving further into the full lifecycle of digital assets, from early-stage fundraising and distribution through to longer-term token operations.
“If we do not build reliable lifecycle infrastructure, markets consolidate around whoever controls distribution and access,” said Arjun Sethi, Payward and Kraken Co-CEO. “With Magna, we are investing in open, chain-aware infrastructure that engages builders earlier and connects fundraising, distribution, and liquidity into a single operating layer.”
Magna will continue to operate as a standalone platform and remain available to existing customers. Magna CEO Bruno Faviero said the company has grown into one of the largest providers in its niche, serving more than 160 clients and reaching a peak total value locked of $60 billion in 2025.
“Joining Kraken gives us the resources to support existing and new clients with institutional-grade infrastructure, deeper liquidity, and global distribution,” Faviero said.
The companies said the initial integration work will focus on onboarding, strengthening security, and foundational technical links. Later phases are expected to align Magna more closely with Kraken’s broader product roadmap, while maintaining flexibility for teams operating across different blockchains and custody arrangements.
In other related news, Chooseabroker.ae reported earlier this month that Payward had reported solid growth for 2025 in its full-year financial highlights, with adjusted revenue rising 33% to $2.2 billion.
