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Payward, parent of Kraken, to acquire Magic Labs wallet-as-a-service business

Payward, the parent company of crypto exchange Kraken, will acquire Magic Labs’ wallet-as-a-service business. Cointelegraph reported that Payward plans to integrate Magic Labs’ non-custodial wallet technology into its enterprise platform, Payward Services. Payward Services supports crypto trading, custody, tokenised assets and fiat on- and off-ramps. Financial terms were not disclosed. The companies aim to complete the deal in the coming weeks, subject to customary closing conditions.