Payward Acquires Magic Labs' Wallet Business to Enhance Cryptocurrency Infrastructure
Payward, the parent company of Kraken, has acquired the wallet business of Magic Labs, which supports 60 million wallets. This strategic acquisition aims to enhance Payward's B2B platform by integrating advanced wallet technology, streamlining infrastructure for cryptocurrency businesses and potentially reducing the number of providers they need to engage with.
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Kraken parent buys wallet business powering 60 million users
Payward agreed to acquire Magic Labs’ embedded wallet unit, adding infrastructure behind 60 million wallets to its B2B platform.
Kraken parent Payward acquires Magic Labs’ wallet business
The deal brings wallet technology to Payward’s enterprise platform, potentially reducing the number of infrastructure providers businesses need to integrate with.

