Morning Edition · Tuesday, July 28, 2026Published at 1:41 AM EDT · New York
Kraken Parent Payward Buys Magic Labs' Embedded-Wallet Unit Behind 60 Million Wallets
The acquisition folds infrastructure that powers app-embedded wallets into Kraken's business-to-business platform, deepening the consolidation of crypto's key-management layer.
Payward, the parent company of exchange Kraken, agreed to acquire the embedded-wallet unit of Magic Labs, adding infrastructure that supports roughly 60 million wallets to its business-to-business platform. Embedded wallets let consumer app…
Continue the Crypto Intelligence Brief
Track on-chain flows, protocol shifts, stablecoins, and regulation.
- 5 crypto intelligence signals a day
- Tracked crypto trends, day over day
- Stablecoin and regulatory movement
- Source-grounded analysis with confidence labels
The Global Intelligence Brief stays free.
Part of a tracked trend
Consumer Brokerages Build Their Own Chains
Retail brokerages increasingly launch proprietary chains and launchpads to internalize fees, order flow, and data, turning distribution reach into a durable advantage over independent layer-2s.
More from this edition
- Aztec Activates Alpha V5 on Ethereum, Cutting Private-Transaction Costs to Under Five Cents
- WEMIX Freezes Its Entire Network After Owner-Key Breach Mints 5.23 Million Dollar-Pegged Tokens
- Ethereum Researchers Weigh Proprietary AMMs After the Model Captures a Third of Solana Trading
- On-Chain Data Shows 5,287 ETH Draining From a Custody Wallet in Quiet Triple-A Breach
- US Senate Defers Floor Vote on Crypto Market-Structure Bill as New York's Attorney General Warns It Weakens States
- Researchers Detail Post-Quantum Cryptography for Bandwidth- and Power-Constrained Networks
- SEC Commissioner's Framework on DeFi Yield Vaults Targets the Humans Quietly Steering Them
- Stablecoin Supply Fell $7.7 Billion in June Even as Adjusted Transfers Reached $1.79 Trillion
- BitMart Abruptly Winds Down After Nine Years, Locking User Withdrawals
- Russia's Sberbank Sets December Deadline to Build Out Crypto Infrastructure
- Bitcoin Falls to About $63,200 as Korea's KOSPI Drops Near 10 Percent Before Fed Decision