Kraken Acquires Tokenization Platform Magna Ahead of Potential IPO

Payward, the dad or mum firm of cryptocurrency change Kraken, has acquired tokenization platform Magna, increasing the corporate’s infrastructure.

Kraken said Wednesday the acquisition would enable Magna to function “as a standalone platform, powered by” the crypto change. The corporate’s announcement mentioned Kraken would use the platform for “onchain and offchain vesting, white-label token claims, custody and escrow workflows, specialised staking performance” and different features.

“Becoming a member of Kraken provides us the sources to assist current and new purchasers with institutional-grade infrastructure, deeper liquidity, and world distribution,” mentioned Magna CEO Bruno Faviero.

Based on Kraken, Magna serves greater than 160 purchasers with a peak whole worth locked of $60 billion in 2025. The acquisition is the most recent transfer by the change this month, following an integration with ICE Chat, and its transfer to sponsor “Trump Accounts” underneath an initiative pushed by US President Donald Trump.

Associated: Kraken parent Payward revenues jump 33% as crypto traders pile in

Kraken submitted a confidential initial public offering filing with the US Securities and Trade Fee in November, signaling a possible IPO sooner or later. The corporate reported $2.2 billion in adjusted income for 2025.

In 2025, Payward acquired crypto native prop firm Breakout, futures buying and selling platform NinjaTrader, derivatives buying and selling platform Small Trade and software program firm Capitalise.

Different crypto corporations mulling US IPOs in 2026

Crypto {hardware} pockets supplier Ledger, headquartered in France, was reportedly discussing a potential public offering in the USA, with a valuation of $4 billion. Digital asset custodian Copper, primarily based in London, was additionally reportedly considering a similar move into the US markets, whereas Securitize, a tokenization platform, reported in January that the corporate’s revenues had been up over 840%, in an SEC submitting forward of plans to go public.