Kraken acquires token management company Magna in preparation for its IPO

According to Fortune, the cryptocurrency exchange platform Kraken has announced the acquisition of the token management platform Magna. Kraken declined to disclose the specific terms of the acquisition, which was completed last Friday. This is Kraken's sixth transaction in the past year, including the acquisition of the U.S. futures platform NinjaTrader for $1.5 billion in March this year.