Payward, Inc., the parent company that operates the Kraken crypto exchange and related financial infrastructure products, announced today it has acquired Magna, a leading token management and distribution platform for Web3 projects.
Kraken x Magna 🤝
We’re excited to announce that we have acquired @magna_digital to bring vesting, claims, staking, custody & token ops into a broader end-to-end stack.
For builders, this means institutional-grade lifecycle infrastructure, not just liquidity.…
— Payward (@Payward) February 18, 2026
Reference: https://x.com/Payward/status/2024153259154260299
In a company press release, Payward described the acquisition as a strategic step in expanding Kraken’s product suite from purely trading-centric services into fully-verticalized infrastructure supporting the entire token lifecycle – including fundraising, issuance, vesting, claims, and distribution operations.
Expansion Beyond Trading Infrastructure
According to the announcement, Magna will continue to operate as a standalone platform powered by Kraken, while the teams work on onboarding, security hardening, and foundational integrations with Payward’s broader product ecosystem.
Magna’s tooling is widely used by crypto teams to manage operational token workflows – vesting schedules, onchain and offchain claim portals, escrow functions, and customized distribution logic across multiple blockchains. Integrating these capabilities into Kraken’s infrastructure is aimed at making it simpler for projects to move from concept to execution without vendor lock-in.
Payward executives emphasized that reliable lifecycle infrastructure is necessary for markets to function efficiently and that the acquisition will help connect early fundraising activities with downstream distribution and liquidity processes.
Financial and Operational Background
No financial terms were publicly disclosed for the acquisition. Prior to this deal, Magna raised $15.2 million in a seed round led by Tiger Global and Tusk Venture Partners at an approximate valuation of $70 million. Other investors included Circle Ventures, Solana Ventures, Ava Labs, Galaxy Labs, Shima Capital, and KI partners.
Magna was founded to abstract and automate token distribution for crypto companies globally, supporting operational workflows for tokens issued to investors, teams, and communities.
Strategic Fit and Industry Context
Kraken has been actively broadening its scope (including their Kraken Listings) beyond spot trading into adjacent financial infrastructure. In recent years, the company and by extension Payward has acquired firms focused on tokenized assets and financial market infrastructure, including platforms in tokenized equities and derivatives.
The deal marks Kraken’s sixth acquisition over the past year, following its $1.5 billion purchase of U.S. futures platform NinjaTrader in March 2025 . Magna was last valued at $70 million in its most recent funding round, according to PitchBook data. The company graduated from Y Combinator’s winter 2022 cohort .
Payward’s corporate mission is to build “open, programmable rails for global markets,” connecting crypto, tokenized assets, and traditional financial arenas under an interoperable infrastructure layer.
The Magna acquisition reinforces this strategy by bringing sophisticated token lifecycle tooling into the wider Suite of institutional-grade backend infrastructure offerings that sit alongside Kraken’s trading platform.
What This Means for Builders and Projects
For crypto teams and protocols, Magna’s integration with Payward and Kraken could offer deeper access to liquidity, distribution networks, and unified tooling from early token issuance through long-term operational phases. The acquisition may also signal a trend where major exchange operators invest in foundational infrastructure rather than limiting themselves to trading interfaces.
