Payward, the parent company of crypto exchange Kraken, has acquired token management startup Magna as it broadens its platform in advance of a possible initial public offering. The transaction was announced on Kraken’s blog on Feb. 18, though the financial details were not revealed.
Magna provides software that enables crypto projects to oversee token vesting schedules, investor claims, recurring distributions and related back-office processes across multiple blockchain networks. Payward said Magna has worked with more than 160 customers and at one point oversaw as much as $60 billion in total value locked during 2025. The company will continue operating independently in the near term while gradually integrating with Kraken’s institutional offerings.
Strengthening Kraken’s institutional toolkit
Payward characterized the deal as part of a larger push to build a more comprehensive, vertically integrated crypto services platform. As Kraken edges closer to a potential public listing, it has been expanding beyond core trading operations through acquisitions and internal product development.
Magna’s infrastructure is expected to enhance Kraken’s ability to support token issuers and large-scale investors across the full token lifecycle — from capital raising and vesting management to distribution mechanics and liquidity coordination.
Magna CEO Bruno Faviero said the move will give the firm access to deeper liquidity, institutional-grade infrastructure and a broader global reach. Initially, Magna plans to focus on client onboarding and technical integrations before aligning more tightly with Kraken’s strategic roadmap.
Deal activity ramps up before IPO
The acquisition follows a series of strategic moves by Kraken as it prepares for life as a public company. In November 2025, the exchange confidentially submitted IPO paperwork to the U.S. Securities and Exchange Commission and later disclosed selected financial results for 2025 — a common step in the pre-listing process.
Analysts view Kraken’s push into token infrastructure as part of a wider trend among major exchanges seeking to diversify revenue streams and deepen institutional engagement beyond spot trading.
Can investors buy Kraken stock?
Kraken’s parent company, Payward, remains privately owned and is not yet publicly traded. Investors interested in gaining exposure would need to wait for a future IPO or other public listing event.