Kraken Parent Expands Services with Acquisition of MagicEden Wallet Infrastructure

Payward, the parent company of Kraken, has made a significant move in the crypto space by acquiring MagicEden's wallet infrastructure business. This strategic acquisition aims to enhance its B2B offerings and provide embedded non-custodial wallets.

The demand for integrated wallet solutions is on the rise, and this move positions Kraken to better compete in the evolving landscape of decentralized finance. The acquisition comes at a time when the crypto market exhibits mixed signals, with varying momentum across major assets.

Kraken operates as a prominent cryptocurrency exchange, providing a platform for buying, selling, and trading various digital assets. With this acquisition, Payward is now able to offer integrated non-custodial wallet solutions, crucial for users prioritizing security and control over their assets.