Payward, the parent company of digital asset exchange Kraken, has acquired Magic Labs’ embedded wallet business and its 60 million non-custodial wallets.
As financial services shift toward digital assets, wallets have become a primary gateway for retail and institutional products. They serve as the principal touchpoint where human users – and autonomous AI agents – store assets and execute transactions across both legacy banks and decentralised networks. For Payward, this acquisition could unlock a new ecosystem of financial services and enterprise users.
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