Payward, the parent company of cryptocurrency exchange Kraken, has acquired the embedded wallet business from Magic Labs. The deal includes the transfer of employees and assets related to the wallet technology.
Source
"Payward Acquires Embedded Wallet Business from Magic Labs" — The Block
This article is Bitcoincryptos' summary and analysis of reporting originally published by The Block. Read the full original report at the link above.
Magic Labs is rebranding as Newton Labs to focus on onchain finance infrastructure development, abandoning its wallet business as a core part of its operations.