Magic Labs sold its wallet business to Payward, the parent company of Kraken, and will rebrand as Newton Labs to focus on the Newton Protocol. Since launching its embedded wallet in 2018, over 60 million wallets have been created on its infrastructure supporting more than 200,000 developers. Newton Protocol acts as the authorization layer for onchain finance, checking every transaction against risk and compliance policies before settlement. Wallet customers will be serviced by Payward starting August 1, 2026. Newton Protocol’s mainnet beta is now live.
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