Crypto
Payward Snags Magic Labs Embedded Wallet Business
Kraken's parent company Payward is expanding its reach in the digital-asset space by acquiring Magic Labs' embedded wallet business.
The deal, which was first reported on July 27, will see Magic Labs' customers automatically migrated to services provided by Payward once it closes.
Magic Labs has announced that it will rebrand as Newton Labs and focus on developing its flagship product, the Newton Protocol (NEWT), along with VaultKit, an institutional asset vault management solution.