**Kraken Acquires Magna to Boost IPO** Payward: After acquiring Magna, Kraken introduces a $6 billion token management tool. Payward announced the acquisition of token management platform Magna, which is expected to support Kraken's upcoming IPO. Magna is used for managing token contracts, distributions, etc., with a maximum locked value of $6 billion. Last year, Kraken was valued at $20 billion and raised $800 million. Magna will continue to operate as an independent platform, but its features will be integrated into Kraken's institutional products. This move reflects Kraken's strategy to expand its business scope beyond the traditional cryptocurrency exchange model. (coindesk)