Kraken’s parent company, Payward, has made headlines in the cryptocurrency industry with its recent acquisition of Magna, a leading tokenization platform. This strategic move, announced on February 18, 2026, aims to bolster Kraken’s institutional services, providing a more comprehensive infrastructure for managing token vesting, claims, and distributions.
Magna, which currently caters to over 160 clients and has built a reputation for its robust token management solutions, recorded an impressive peak total value locked of $60 billion back in 2025. This acquisition aligns with Kraken’s vision of offering enhanced services as it navigates an increasingly competitive and technically demanding market.
Bruno Faviero, CEO of Magna, emphasized that this partnership with Kraken grants Magna access to institutional-grade infrastructure, increased liquidity, and global distribution channels, which are vital for scaling operations and meeting the evolving demands of their clients. While Magna will retain its identity as a standalone platform, its tools are set to be integrated into Kraken’s expanding institutional product suite, further enriching the overall offerings.
Kraken’s Strategic Growth Through Acquisitions
This acquisition is part of a broader strategy by Kraken to grow its service offering through various acquisitions. In 2025 alone, Payward acquired NinjaTrader, a US futures trading platform, for $1.5 billion, and the derivatives trading venue, Small Exchange, for $100 million. Additionally, Kraken expanded its portfolio by acquiring the prop trading firm Breakout and tokenized stock specialist Backed Finance, highlighting its aggressive growth strategy in the rapidly evolving crypto landscape.
Furthermore, Kraken has recently integrated with ICE Chat and has become associated with new initiatives, including sponsoring “Trump Accounts” under a program spearheaded by US President Donald Trump.
Preparing for an IPO: A Bright Future Ahead
In a pivotal year for the company, Kraken also filed confidentially for an initial public offering (IPO) with the SEC in November 2025. Although a public date for the listing has yet to be announced, industry insiders are closely watching this potential shift towards becoming a publicly traded company.
The financial performance reported by Kraken has been impressive, with adjusted revenue hitting $2.2 billion in 2025, marking a significant 33% increase compared to the previous year. With the acquisition of Magna, Kraken further enhances its capabilities in token lifecycle management, a critical aspect of its service as it approaches its anticipated public debut.
Kraken is not alone in its aspirations for a US IPO, with other prominent players in the crypto sector, such as Ledger and Copper, also exploring their public offering options. Recently, the tokenization platform Securitize filed with the SEC, boasting an extraordinary revenue growth of over 840%, underscoring the dramatic evolution and potential of the cryptocurrency market.
As Kraken continues to expand its institutional offerings and prepares for its IPO, the acquisition of Magna not only strengthens its operational capabilities but also underscores its commitment to being a leading player in the increasingly institutional-focused segment of the cryptocurrency space.
