Overview
- Payward announced the Magna purchase on Feb. 18 after the deal closed the prior Friday, and financial terms were not disclosed.
- Magna provides token vesting, claims and distribution infrastructure, serving 160+ clients and reporting a $60 billion peak TVL in 2025.
- This marks Kraken’s sixth acquisition in about a year, following NinjaTrader ($1.5 billion), Small Exchange ($100 million), Breakout and Backed.
- Co-CEO Arjun Sethi said the move lets Kraken support token issuers earlier in their lifecycle rather than only at liquidity events.
- Kraken confidentially filed for a U.S. IPO in November 2025, raised $800 million at a $20 billion valuation, and reported $2.2 billion in adjusted 2025 revenue.