Kraken's Parent Payward Acquires Magic Wallet to Scale Enterprise Infrastructure
Payward, the parent company of Kraken, has officially agreed to acquire Magic Labs’ wallet-as-a-service business. This strategic acquisition integrates advanced, non-custodial embedded wallets into Payward's existing infrastructure, significantly boosting its enterprise-grade capabilities.
By absorbing technology that has powered over 60 million wallets, Payward is rapidly expanding its suite of enterprise products. This move positions the company at the forefront of the embedded wallet revolution, providing the essential tools needed for seamless onchain integration and mass adoption.
The acquisition brings battle-tested technology—used to create more than 60 million wallets—into Payward’s expanding enterprise product suite. Following the deal, Newton Labs will pivot to focus exclusively on onchain authorization, while Payward solidifies its dominance in the crypto infrastructure space.
This is a summarized and adapted version by Artificial Intelligence. To read the complete original story, visit the official source.
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