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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…
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