Kraken acquires token management platform Magna, further expanding its product line to pave the way for IPO.

Techub News, according to Fortune, cryptocurrency exchange Kraken has completed the acquisition of token management platform Magna. The deal was finalized last Friday, with specific terms undisclosed. This marks Kraken's sixth acquisition in the past year. Magna primarily provides token distribution management services for crypto companies, helping startups track complex holder information after token launches. Arjun Sethi, co-CEO of Kraken, stated that this acquisition aims to support projects from the early stages of token issuance, rather than only intervening when liquidity goes live. Kraken is continuously expanding its product line in preparation for going public. The company secretly filed for an IPO last November and released partial 2025 financial data in February this year, similar to an annual report from a listed company. Sethi did not disclose a specific timeline for the listing, stating that companies in the listing process must adhere to regulatory "quiet period" restrictions.