Kraken Acquires Magna to Strengthen Tokenization Infrastructure Ahead of Potential IPO

Payward, the parent company of Kraken, has acquired tokenization platform Magna as it deepens its blockchain infrastructure strategy ahead of a potential public listing.

Magna will continue operating as a standalone platform, supported by Kraken’s liquidity and global reach. The integration is expected to enhance services including onchain and offchain vesting, white-label token distribution, custody, escrow workflows, and specialized staking tools.

The platform reportedly serves more than 160 clients and reached a peak total value locked of $60 billion in 2025, reflecting growing institutional demand for tokenized assets and compliant infrastructure.

IPO Plans and Strategic Expansion in 2025

The acquisition follows Payward’s confidential IPO filing with the U.S. Securities and Exchange Commission in November. The company reported $2.2 billion in adjusted revenue for 2025 and has completed several acquisitions this year, positioning itself for broader capital markets participation.

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