Catenaa, Thursday, February 26, 2026- Crypto exchange Kraken has purchased token management platform Magna, the company announced Wednesday, marking its sixth acquisition in the past year.
Magna, launched in 2021 and developed through Y Combinator’s 2022 winter cohort, manages token vesting schedules, airdrops, and allocations across multiple blockchain networks.
The platform reached a peak total value locked of $60 billion in 2025. Terms of the deal were not disclosed, though Magna’s last funding round valued the startup at $70 million.
Kraken said Magna will serve as an operational layer within its broader infrastructure, handling onchain and offchain vesting, white-label token claims, custody and escrow, and specialized staking features. The platform is expected to streamline project fundraising, distribution, and liquidity management.
The acquisition follows Kraken’s $1.5 billion purchase of U.S. futures platform NinjaTrader and builds on the firm’s expansion through multiple acquisitions.
Kraken parent company Payward reported $2.2 billion in adjusted revenue for 2025, a 33% increase from the prior year, aided by recent M&A activity and new product rollouts in the EU and UK.
Kraken is preparing for a public listing after filing a confidential registration last November and raising additional funds at a $20 billion valuation.
Industry observers note competitors like Anchorage Digital and Coinbase are also investing in token lifecycle management through acquisitions, highlighting the growing focus on operational infrastructure.
Co-CEO Arjun Sethi described the purchase as part of Kraken’s strategy to build open, chain-aware infrastructure that supports developers and integrates fundraising, distribution, and liquidity in a unified system.
