Kraken Parent Payward Expands Web3 Push With Acquisition of Magic Labs' Wallet Business
Crypto Economy · Published Jul 27, 2026, 8:02 PM EDT
Article Summary
Payward agrees to acquire Magic Labs' embedded wallet business through an asset sale deal. Magic Labs has accumulated over 60 million created wallets and support for 200,000 developers since its founding in 2018. The selling firm restructures under the Newton Labs brand to focus on the development of the Newton Protocol authorization layer.
This article appears to be broader market context rather than a single-asset story.
What Happened
Payward agrees to acquire Magic Labs' embedded wallet business through an asset sale deal. Magic Labs has accumulated over 60 million created wallets and support for 200,000 developers since its founding in 2018. The selling firm restructures under the Newton Labs brand to focus on the development of the Newton Protocol authorization layer.
Why It Matters
It may matter as broader market context rather than a single-asset catalyst. CoqiLabs groups this article under Technology to help readers understand the related market theme.
Market Context
Published by Crypto Economy. Category: Technology. Published Jul 27, 2026, 8:02 PM EDT.
This article appears to be broader market context rather than a single-asset story.
Sentiment Read
Market tone for this article appears positive. This article is shown for market context only and is not financial advice.
Original Publisher
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