Payward Expands Enterprise Offerings with Magic Labs Wallet Acquisition

The deal brings wallet technology to Payward's platform, potentially reducing the number of infrastructure providers that businesses need to integrate with. Magic Labs' infrastructure has been used to create over 60 million non-custodial wallets for more than 200,000 developers and facilitated over $10 billion in stablecoin transactions.

Following the sale, Magic Labs will focus on Newton, a platform that helps users and applications securely authorize and verify onchain transactions without relying on centralized intermediaries. The acquisition is expected to close in the coming weeks, subject to customary closing conditions.