"Magna helps crypto companies manage the distribution of their cryptocurrencies. When crypto startups raise money from venture capitalists, they often promise investors a tranche of tokens, much like traditional startups give VCs equity. As the list of recipients grows, it grows more complicated to keep track of who owns what, especially once the tokens are trading live. That's why companies turn to Magna, Arjun Sethi, the co-CEO of Kraken, told Fortune."
"Kraken has purchased the token management platform Magna, the crypto exchange announced on Wednesday. Kraken declined to disclose the terms of the acquisition, which closed on Friday. It's the exchange's sixth deal over the past year, including its $1.5 billion purchase of the U.S. futures platform NinjaTrader in March. Kraken's latest deal comes as the company continues to build out its product suite before it goes public."
Kraken purchased the token management platform Magna, closing the acquisition on Friday with terms undisclosed. The deal is Kraken's sixth acquisition over the past year, following its $1.5 billion purchase of U.S. futures platform NinjaTrader in March. Magna provides tools to manage cryptocurrency distribution and track token ownership as tokens begin trading, simplifying cap table complexity for startups and investors. The acquisition enables earlier support for token issuers' liquidity planning and broadens Kraken's product suite ahead of a planned public offering. Kraken filed confidentially for an IPO, released some 2025 financials, and declined to provide a specific IPO timeline amid quiet-period constraints.
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