Payward, the parent company of cryptocurrency exchange Kraken, has acquired token management firm Magna as part of its broader expansion efforts ahead of a potential initial public offering. The deal was announced in a Feb. 18 post on Kraken’s official blog, though financial terms were not disclosed.
Magna develops infrastructure that allows crypto projects to manage token vesting schedules, claims, automated distributions and other operational processes across multiple blockchains. Payward said the platform has served more than 160 clients and reached a peak total value locked of $60 billion in 2025. Magna will continue operating independently for now, while integration efforts begin with Kraken’s wider institutional product suite.
Kraken builds out institutional token capabilities
Payward described the transaction as a strategic move to expand beyond core exchange services and deepen its vertical integration across the crypto ecosystem. As Kraken prepares for a potential public listing, the company has been broadening its product lineup through acquisitions and in-house development.
Magna’s technology is expected to enhance Kraken’s ability to support token issuers and institutional clients throughout the token lifecycle — from early fundraising stages to distribution management and liquidity operations.
Magna CEO Bruno Faviero said the partnership will give the company access to institutional-grade systems, greater liquidity and a global distribution network. In the near term, Magna will prioritize onboarding and foundational integrations before more closely aligning its offerings with Kraken’s long-term roadmap.
Continued dealmaking ahead of public debut
The Magna purchase marks another step in Kraken’s expansion as it moves closer to going public. In November 2025, Kraken confidentially filed IPO paperwork with the U.S. Securities and Exchange Commission and later disclosed select financial results for 2025, a typical step for companies preparing to list shares.
Industry observers see Kraken’s push into token infrastructure and related services as part of a broader strategy to strengthen its institutional crypto business, mirroring efforts by other exchanges to diversify beyond traditional spot trading.
Is Kraken publicly traded?
Kraken’s parent entity, Payward, remains privately held and is not currently listed on any public stock exchange. Investors interested in tracking developments or potentially investing after an IPO would need to wait until shares become publicly available.
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