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Home›Crypto›Market Structure›Payward acquires Magic Labs embedded wallet business

Payward acquires Magic Labs embedded wallet business

Magic Labs will rebrand as Newton Labs and shift its focus to an onchain authorization layer that checks transactions against policy before they settle.

Reported · Written up by our desk · Market Structure

The Block reports that Payward, the parent company of Kraken, is acquiring Magic Labs’ embedded wallet business.

After the deal, Magic Labs will rebrand as Newton Labs, positioning the new company to focus on building onchain authorization and onchain finance infrastructure.

According to The Defiant, the Newton Labs layer is designed to vet transactions against policy before they settle, supporting the authorization step in embedded wallet workflows.

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Sources

The BlockKraken parent Payward acquires Magic Labs’ embedded wallet business
The DefiantMagic Labs Sells Wallet Business to Kraken Parent Payward

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