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Payward Acquires Magic Labs' Embedded Wallet Business, Gains 60M+ Digital Wallets

Partnerships & Ecosystem

2026-07-28 07:42:03

MAGIC-5.02%

NEWT-4.61%

On July 27, Payward, the parent company of Kraken, signed a definitive agreement to acquire Magic Labs' embedded wallet business, transferring more than 60 million digital wallets and infrastructure serving over 200,000 developers worldwide.

Following the transaction, Magic Labs will be rebranded as Newton Labs and focus exclusively on developing the Newton Protocol, a compliance and security layer for blockchain transactions. Users of the embedded wallet platform will transition to Payward Services.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

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