Kraken parent Payward acquires Magic Labs’ wallet business
Cointelegraph 2026-07-27 16:40:39
Context: Payward, the parent company of cryptocurrency exchange Kraken, has acquired the wallet business of Magic Labs. This acquisition aims to integrate wallet technology into Payward's enterprise platform. The move may streamline infrastructure for businesses by reducing the number of providers they need to work with.
Key Facts
- Payward, the parent company of cryptocurrency exchange Kraken, has acquired the wallet business of Magic Labs in a deal that brings wallet technology to Payward's enterprise platform.
- The acquisition potentially reduces the number of infrastructure providers businesses need to integrate with, streamlining their operations.
- The deal enhances Payward's enterprise platform by incorporating Magic Labs' wallet technology, though specific terms of the acquisition and future implementation details remain undisclosed.