Payward Acquires Magic Labs: A New Era for Enterprise Wallets

Payward, the parent company of Kraken, is making a decisive move to broaden its crypto infrastructure by acquiring Magic Labs’ wallet services.

From Zero to Enterprise Wallets: Payward's Strategic Play

Payward will integrate Magic Labs’ non‑custodial wallet technology into its Payward Services platform, offering clients a single integration that supports multiple blockchain infrastructures.

Magic Labs’ 60 Million Wallet Library

■Over 60 million non‑custodial wallets

■More than 200,000 developers

■Over $10 billion in stablecoin transactions

New Integration Opportunities for Investors

■One‑stop integration for multi‑wallet support

■Direct self‑custodied wallets for business clients

■API access and scalability for developers

Regulatory and Security Implications

This move aligns with global regulatory frameworks such as SEC and MiCA, strengthening a compliant wallet infrastructure.

Market Reaction and Future Vision

■Deal expected to close in the coming weeks

■Magic Labs will focus on the Newton platform

■Reduction in integration costs for enterprise crypto services

The decrease in paywall and integration costs could accelerate the growth rate of crypto companies. This merger holds the potential to speed up large financial institutions' transition into crypto services.