Kraken parent, Payward, buys Magic Labs embedded wallets

On 27 July, MagicLabs sold its embedded wallet business to the encrypted currency exchange Kraken parent company Payward, which was sold as an asset. Upon completion of the transaction, the wallet client will be transferred to Payward Services, while Magic Labs will be renamed Newton Labs, focusing on the development of an authorized layer for chain-oriented finance, Newton Protocol. Meanwhile, Payward is continuing to expand its financial infrastructure, following successive acquisitions of Bitnomial, Reap Technologies and Ninja Trader。