Payward Expands Crypto Infrastructure with Magic Labs Wallet Acquisition

Payward Services, the parent company of cryptocurrency exchange Kraken, has acquired Magic Labs' embedded wallet division in a strategic move to expand its crypto infrastructure offerings. As part of this deal, Magic Labs will undergo a rebranding to Newton Labs and focus on developing institutional-grade onchain finance infrastructure.

The partnership marks another milestone in Payward's ambitious expansion strategy, which includes the acquisition of several other companies in 2026. With the addition of Magic Labs' wallet division, Payward is poised to strengthen its position as a comprehensive cryptocurrency services provider.

Newman Labs will dedicate its resources to advancing the Newton Protocol, which enables compliance verification, security protocols, identity authentication, and risk assessment mechanisms prior to blockchain transaction finalization. This protocol has already undergone mainnet beta testing in June 2026 and is expected to expand across stablecoin infrastructure, tokenized traditional assets, and autonomous finance implementations.