Kraken acquires token management platform Magna, further expanding its product line in preparation for its IPO.

PANews reported on February 18th that, according to Fortune magazine, cryptocurrency exchange Kraken has acquired token management platform Magna. The deal was completed last Friday, and the specific terms were not disclosed. This is Kraken's sixth acquisition in the past year. Magna primarily provides token distribution management services to crypto companies, helping startups track complex holder information after their tokens are listed for trading. Kraken co-CEO Arjun Sethi stated that this acquisition aims to support issuers from the early stages of token issuance, rather than just shortly before liquidity launch.

Kraken is continuing to expand its product line in preparation for an IPO. The company secretly filed for an IPO last November and released partial financial data for 2025, similar to an annual report for publicly traded companies, this February. Sethi has not disclosed a specific IPO timeline, stating that companies in the IPO process must comply with regulatory "quiet periods."