NewsHK
The market for crypto infrastructure is running toward consolidation, with enterprises increasingly reluctant to stitch together services from multiple single-purpose vendors.
Against that backdrop, Payward, the parent company of exchange operator Kraken, acquired the wallet business of Magic Labs.
The deal brings wallet technology directly onto Payward's enterprise platform, and Payward says it could reduce the number of infrastructure providers its business clients need to integrate with.
What changed hands Magic Labs built wallet-as-a-service infrastructure: technology that developers embed into their own products so end users can create and manage wallets without leaving the host application.
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