Crypto exchange Kraken has acquired token management platform Magna, continuing its acquisition spree as the company prepares for a potential public market debut. The deal integrates Magna's infrastructure for managing token vesting, claims, and distributions into Kraken’s growing offerings.
Magna currently serves over 160 clients and reported a peak total value locked of $60 billion in 2025. This acquisition underscores Kraken's ambition to evolve beyond a simple exchange, broadening its services for institutional clients.
Kraken previously acquired futures platform NinjaTrader for $1.5 billion and derivatives trading venue Small Exchange for $100 million last year. The firm also secured $800 million in funding in November, with a valuation of $20 billion.
Magna will continue to operate independently, with its tools to be integrated into Kraken’s institutional product suite.