Kraken has acquired the token management platform Magna as part of its aggressive expansion strategy. The deal aims to strengthen Kraken’s infrastructure for services like token vesting and distribution amid intense market competition. This acquisition follows a series of others, including a $1.5 billion purchase of NinjaTrader, as Kraken prepares for an initial public offering. The company’s parent firm, Payward, reported $2.2 billion in adjusted revenue for 2025, a 33% year-over-year increase.
Kraken has acquired the token management platform Magna to expand its infrastructure. The acquisition was announced on Wednesday as the latest in a series of deals.
The terms were not disclosed, but data shows Magna raised $70 million in its last funding round. This news was first reported by Fortune.
Magna, founded in 2021, develops tools for token vesting, airdrops, and distribution. Kraken plans to integrate the platform as a key operational layer.
Kraken stated that Magna already serves projects with large token ecosystems. Its tools help companies manage automated vesting and allocation.
This marks Kraken’s sixth acquisition in the past year. The largest was the $1.5 billion purchase of NinjaTrader, alongside the acquisition of trading firm Breakout.
Kraken is pursuing an initial public offering after filing a confidential registration statement in November. It previously raised capital at a $20 billion valuation.
In January, its special-purpose acquisition company, KRAKacquisition, raised $345 million via an IPO. Payward, Kraken’s parent, reported $2.2 billion in adjusted 2025 revenue.
Co-CEO Arjun Sethi attributed the 33% revenue growth to acquisitions and product launches. Sethi stated that “infrastructure is important in the token lifecycle” and that distribution systems control access.
This consolidation trend is visible across the industry. Anchorage Digital acquired Hedgey in December, and Coinbase acquired Liquifi last summer.
