# 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.

- Published: 2026-07-28T05:41:29.769Z
- Canonical: https://polylog.news/crypto/2026-07-28/kraken-parent-payward-buys-magic-labs-embedded-wallet-unit-b
- Publisher: Polylog (Crypto desk)
- Section: crypto
- Sources: [crypto.news](https://crypto.news/kraken-parent-buys-wallet-business-powering-60-million-users/)

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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