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Crypto

Kraken Parent Acquires Embedded Wallet Business from Magic Labs

Guavy AI Editorial Team
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The agreement transfers Magic Labs' embedded wallet technology to Payward Services, which will support over 200,000 developers worldwide. This technology has powered more than 60 million digital wallets since its establishment in 2018.

Newton Labs, the remaining operations of Magic Labs, will continue operating commercially under the name Newton Labs and focus on developing decentralized infrastructure technologies centered on the Newton Protocol.

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