Kraken, the cryptocurrency exchange, has acquired tokenization platform Magna. This acquisition significantly expands Kraken's infrastructure, allowing Magna to operate as a standalone entity powered by the exchange.
Kraken will leverage Magna's platform for on-chain and off-chain vesting, white-label token claims, custody, escrow workflows, and specialized staking functions. Magna CEO Bruno Faviero stated the integration provides resources for institutional-grade infrastructure, deeper liquidity, and global distribution.
Magna currently serves over 160 clients, with a peak total value locked reaching $60 billion in 2025. This move follows Kraken's recent integration with ICE Chat. The exchange also submitted a confidential initial public offering filing with the US Securities and Exchange Commission in November, signaling a potential future IPO. Kraken reported $2.2 billion in adjusted revenue for 2025.
In 2025, Kraken's parent company, Payward, also acquired prop company Breakout, futures trading platform NinjaTrader, derivatives trading platform Small Exchange, and software company Capitalise.