TLDR

  • Kraken has acquired Magna, a token vesting platform founded in 2021.
  • Magna hit a total value locked (TVL) of $60 billion in 2025.
  • Kraken did not disclose the terms of the acquisition.
  • This marks Kraken’s sixth acquisition over the past 12 months.

Crypto exchange Kraken announced Wednesday that it has acquired token management platform Magna. Launched in 2021, Magna supports token vesting, airdrops, and distribution tracking for businesses. This is Kraken’s sixth acquisition in the last year, following its $1.5 billion purchase of U.S. futures platform NinjaTrader.

Magna’s Role in Token Management

Magna helps companies manage complex schedules across multiple blockchains.
The platform operates both onchain and offchain, offering white-label token claims, custody, and escrow workflows.

According to Kraken, “Magna has already become a core piece of infrastructure for teams managing billions in active token ecosystems.” The startup was valued at $70 million in its last funding round, according to Pitchbook data Magna reportedly reached a peak total value locked (TVL) of $60 billion in 2025, showing strong adoption.

Industry Activity and Competition

Kraken is not the only crypto firm investing in token lifecycle platforms.
 Anchorage Digital acquired Hedgey for token allocations and vesting management in December, while Coinbase bought Liquifi last summer.

The acquisitions show growing interest in tools that streamline fundraising, distribution, and staking. This move aligns with its broader strategy to integrate operational infrastructure into its platform.

Kraken’s Financial Growth

Kraken’s parent company, Payward, reported $2.2 billion in adjusted revenue for 2025, a 33% increase from 2024. Co-CEO Arjun Sethi partly attributed revenue growth to acquisitions like NinjaTrader and Breakout, along with the launch of the Krak app.

Sethi added, “With Magna, we are investing in open, chain aware infrastructure that engages builders early and connects fundraising, distribution, and liquidity.” The acquisition is expected to support its planned initial public offering and expansion into derivatives trading in Europe and the UK.

Strategic Outlook

Kraken aims to provide a unified layer for token lifecycle management across chains.
The acquisition positions the company to offer a full range of services from token creation to staking and custody.

Terms of the Magna deal were not disclosed, but the acquisition is considered a strategic step for Kraken’s broader ecosystem development.