{"id":76024,"date":"2026-07-27T23:47:41","date_gmt":"2026-07-27T23:47:41","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/kraken-parent-payward-acquires-magic-wallet-adding-technology-behind-60m-wallets\/"},"modified":"2026-07-27T23:47:41","modified_gmt":"2026-07-27T23:47:41","slug":"kraken-parent-payward-acquires-magic-wallet-adding-technology-behind-60m-wallets","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/kraken-parent-payward-acquires-magic-wallet-adding-technology-behind-60m-wallets\/","title":{"rendered":"Kraken Parent Payward Acquires Magic Wallet, Adding Technology Behind 60M Wallets"},"content":{"rendered":"<p><b>(Originally posted on : Bitcoin News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"@container mb-[25px] rounded-sm overflow-clip py-0.5 pr-0.5 pl-2.5 bg-success-100\">\n<div class=\"flex flex-col gap-m overflow-clip rounded-[6px] !bg-success-10 p-3 @[420px]:p-m\">\n<h2 class=\"m-0 flex items-center gap-s text-[19px] !text-[#1c1c1c] md:text-[20px]\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"10\" viewbox=\"0 0 16 10\" fill=\"none\" class=\"shrink-0 text-success-100\" aria-hidden=\"true\"><path d=\"M1 1.5h14\" stroke=\"currentColor\" stroke-width=\"2.5\" stroke-linecap=\"round\"\/><path d=\"M1 8.5h10\" stroke=\"currentColor\" stroke-width=\"2.5\" stroke-linecap=\"round\"\/><\/svg><span>Key Takeaways<\/span><\/h2>\n<ul class=\"m-0 flex list-none flex-col gap-m pl-0\">\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Payward agreed to buy Magic\u2019s wallet unit, adding technology behind 60M+ wallets to Kraken\u2019s stack.<\/span><\/li>\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Magic\u2019s $10B volume and 200,000 developers could deepen Payward\u2019s enterprise crypto reach.<\/span><\/li>\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Payward will integrate Magic\u2019s 60M-wallet tech as Newton Labs shifts to Newton Protocol.<\/span><\/li>\n<\/ul>\n<\/div>\n<\/div>\n<h2>Newton Labs Sells Magic Wallet Business to Focus Fully on Onchain Authorization<\/h2>\n<p>Payward, the parent company of crypto exchange Kraken, has agreed to acquire Magic Labs\u2019 wallet infrastructure business as it pushes deeper into services for companies building onchain financial products.<\/p>\n<p>The transaction will add embedded, non-custodial wallets to Payward Services, the company\u2019s business-to-business infrastructure platform. Financial terms were not disclosed.<\/p>\n<p>Magic\u2019s technology has powered more than 60 million wallets and processed over $10 billion in stablecoin volume. More than 200,000 developers have used its products, according to the announcement.<\/p>\n<p>According to the <a href=\"https:\/\/www.businesswire.com\/news\/home\/20260727181779\/en\/Payward-to-Acquire-Magic-Labs-Wallet-Infrastructure-Business-to-Expand-B2B-Offering-with-Embedded-Wallets\" target=\"_blank\" rel=\"noopener noreferrer\">official announcement<\/a>, the acquisition is expected to close within weeks, subject to customary conditions.<\/p>\n<h2>Payward Builds a Broader Enterprise Stack<\/h2>\n<p>Payward Services gives corporate clients a single connection to crypto trading, custody, tokenized assets, derivatives, and services for moving funds between traditional currencies and digital assets.<\/p>\n<p>Adding Magic\u2019s wallet software will allow those partners to offer self-custody products without relying on several separate technology providers. Businesses could use the same platform to provide wallets alongside trading and settlement services.<\/p>\n<p>\u201cEmbedded wallets are becoming foundational infrastructure for every onchain product,\u201d Payward Chief Commercial Officer Mark Greenberg said. He added that the deal would allow Payward to offer <a href=\"https:\/\/news.bitcoin.com\/kraken-parent-payward-targets-occ-charter-to-unlock-institutional-digital-asset-custody\/\">exchange, custody and wallet technology<\/a> through one integrated system.<\/p>\n<p>Magic\u2019s infrastructure combines a trusted execution environment-based signing system with an embedded integration layer and developer software. The system allows companies to issue and manage non-custodial wallets while users retain control of their assets.<\/p>\n<p>Demand for such products has grown as companies seek to place blockchain functions inside familiar applications, rather than requiring customers to navigate separate wallets and exchanges.<\/p>\n<h2>Magic\u2019s Former Parent Turns to Onchain Authorization<\/h2>\n<p>Magic Labs has since become Newton Labs, which will focus on developing Newton Protocol. The project is designed as an authorization layer for onchain finance.<\/p>\n<p>Newton aims to let institutions, asset issuers, and decentralized protocols enforce identity, compliance, security, and risk policies before transactions settle. The results can then be verified onchain.<\/p>\n<p>\u201cThis transition allows us to put our full energy behind Newton,\u201d Newton Labs CEO Sean Li said, while placing the wallet business with a company committed to supporting its customers.<\/p>\n<p>Once the acquisition is completed, Payward plans to integrate Magic\u2019s technology directly into <a href=\"https:\/\/news.bitcoin.com\/kraken-parent-payward-buys-reap-technologies-for-600m-to-build-stablecoin-payment-rails\/\">Payward Services<\/a>.<\/p>\n<p>The deal extends Payward beyond the exchange business for which it is best known. Its shared infrastructure also supports Ninjatrader, Breakout, xStocks, Bitnomial and benchmark provider CF Benchmarks.<\/p>\n<p>By bringing wallets in-house, Payward is positioning itself as a single supplier for businesses that want to launch crypto products without building the underlying financial and blockchain infrastructure themselves.<\/p>\n<\/p><\/div>\n<p><a href=\"https:\/\/news.bitcoin.com\/kraken-parent-payward-acquires-magic-wallet-adding-technology-behind-60m-wallets\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Bitcoin News ) Key Takeaways Payward agreed to buy Magic\u2019s wallet unit, adding technology behind 60M+ wallets to Kraken\u2019s stack. Magic\u2019s $10B volume and 200,000 developers could deepen Payward\u2019s enterprise crypto reach. Payward will integrate Magic\u2019s 60M-wallet tech as Newton Labs shifts to Newton Protocol. Newton Labs Sells Magic Wallet Business [&hellip;]<\/p>\n","protected":false},"author":3947362377,"featured_media":76025,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[32],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/76024"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/3947362377"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=76024"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/76024\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/76025"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=76024"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=76024"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=76024"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}