Kraken continues acquisition streak by buying token management firm Magna ahead of IPO push

Finance Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email Kraken continues acquisition streak by buying token management firm Magna ahead of IPO push The deal adds token lifecycle infrastructure to Kraken’s growing product suite. By Krisztian Sandor | Edited by Aoyon Ashraf Feb 18, 2026, 7:07 p.m. Make us preferred on Google Kraken (modified by CoinDesk) What to know : Payward, Kraken’s parent company, has acquired token operations firm Magna. Magna is used by crypto teams to manage token vesting, claims and distributions. It serves 160 clients and had a peak total value locked of $60 billion on its platform last year. Kraken has made a string of acquisitions to expand and raised $800 million last year at a $20 billion valuation. Crypto exchange Kraken has extended its acquisition streak by buying token management platform Magna as the company gears up for an expected public market debut. The deal, announced Wednesday by Kraken’s parent company Payward, brings in a platform used by crypto teams to manage token vesting, claims and distributions. It currently serves over 160 clients and reported a peak total value locked (TVL) of $60 billion in 2025, according to the press release. STORY CONTINUES BELOW Don't miss another story. Subscribe to the Crypto Daybook Americas Newsletter today . See all newsletters Sign me up By signing up, you will receive emails about CoinDesk products and you agree to our terms & conditions and privacy policy . Terms of the deal were not disclosed. The deal highlights Kraken's push to become more than just a crypto exchange, expanding its offerings ahead as the firm is widely expected to go public. Last year, it bought U.S. futures platform NinjaTrader for $1.5 billion, U.S.-licensed derivatives trading venue Small Exchange for $100 million. It also acquired proprietary trading firm Breakout and tokenized stock specialist Backed Finance, the issuer behind xStocks. Kraken raised $800 million in November, a round that included Citadel Securities, valuing the firm at $20 billion. Magna will continue to operate as a standalone platform, but its tools will be integrated into Kraken’s institutional-facing product suite. Read more: Crypto exchange Kraken fires chief financial officer ahead of long-awaited IPO Kraken acquisition Magna More For You Zoomex: Precise Systems of Fairness and Transparency by Design By CoinDesk Jan 31, 2026 Commissioned by Zoomex Read full story More For You Optimism's OP token falls after Base moves away from the network's 'OP stack' in major tech shift By Margaux Nijkerk , AI Boost | Edited by Aoyon Ashraf 1 hour ago Base launched in 2023 and quickly became one of the most widely used Ethereum layer-2 networks. What to know : Coinbase’s Ethereum layer-2 network, Base, is changing the technology that powers it, stepping back from relying on Optimism’s OP Stack, the toolkit it originally launched on. Base launched in 2023 and quickly became one of the most widely used Ethereum layer-2 networks, with $3.85 billion in locked in the protocol today . The OP token is down 4% from the past 24 hours following the announcement of this news. Read full story Latest Crypto News The Protocol: Zora moves to Solana 1 hour ago Optimism's OP token falls after Base moves away from the network's 'OP stack' in major tech shift 1 hour ago Ethereum’s 50% staking milestone triggers backlash over 'misleading' supply data 1 hour ago Bitcoin miner Riot stock jumps nearly 9% as activist Starboard urges AI data center expansion 1 hour ago Financial giant with $3.5 trillion asset to pilot Trump-affiliated WLFI stablecoin for tokenized funds 2 hours ago Crypto Long & Short: Crypto’s liquidity mirage 2 hours ago Top Stories Bitcoin volatile, but flat, while crypto stocks bounce amid cooling AI fears 2 hours ago Goldman Sachs' David Solomon says he owns 'very little' bitcoin but watching it closely 2 hours ago Bitcoin's plunge signals coming AI crisis, but massive Fed response will drive new record high: Arthur Hayes 3 hours ago American crypto holders are scared and confused about this year’s new IRS tax rules 5 hours ago Hyperliquid starts DeFi lobbying group with $29 million token backing 4 hours ago From 2016 hack to $150M Endowment: the DAO’s second act focuses on Ethereum security 6 hours ago