Kraken's parent company has acquired Magna, a Y Combinator-backed token vesting platform that manages $60 billion in assets. The acquisition allows Magna to continue operating as a standalone platform while being powered by Kraken's infrastructure.
Kraken has completed its acquisition of Magna on Friday, a move designed to enhance the exchange's ability to collaborate with cryptocurrency projects during early token development phases. This strategic acquisition positions Kraken to provide earlier support and potentially secure earlier listings for emerging tokens.
Kraken's parent company Payward has acquired Magna, expanding Kraken's services beyond traditional trading infrastructure. The acquisition comes amid expectations that crypto deals in 2026 will exceed $37 billion, setting a new industry record.
