Kraken’s parent company, Payward, has successfully acquired tokenization platform Magna, as per an official announcement on Wednesday.
Alongside Kraken, Payward manages other divisions such as CF Benchmarks, Breakout, and xStocks. The update comes as Kraken could potentially be preparing for an IPO in 2026, following its acquisition of NinjaTrader.
“If we do not build reliable lifecycle infrastructure, markets consolidate around whoever controls distribution and access. With Magna, we are investing in open, chain-aware infrastructure that engages builders earlier and connects fundraising, distribution, and liquidity into a single operating layer,” said Kraken co-CEO Arjun Sethi.
“The goal is simple. Help projects move from idea to execution with clarity and measurable outcomes, without locking them into one stack.”
The move is expected to tighten control over more blockchain based firms and could add more value ahead of an IPO that may be one of the largest, considering Kraken’s size as one of the largest cryptocurrency exchanges in the world. According to its official website, Kraken had over 13 million users and managed $48.2 billion in platform assets in 2025.
“Magna was built to make token operations safer, simpler, and more compliant at scale. Over the past four years we have grown into the largest token vesting platform, serving over 160 clients with a peak Total Value Locked of $60B in 2025.’ said Magna’s CEO Bruno Faviero.
Magna was created in 2022 by founders Bruno Faviero and Arun Kirubarajan.