Payward Acquires Magic Labs Wallet Business in Web3 Push

Magic Labs' wallet technology has powered more than 60 million digital wallets since 2018. The unit serves over 200,000 developers who use its custody features in consumer and institutional apps. Newton Labs' first product on the protocol is VaultKit, a modular tool for institutional vaults designed to execute pre-settlement rules over real-world assets and stablecoins, the company said.

The deal adds to a string of acquisitions by Payward. In May 2026, the firm closed its purchase of CFTC-licensed derivatives exchange Bitnomial for up to $550 million in cash and stock. That followed a $600 million agreement for Reap Technologies, a Hong Kong stablecoin payments firm. In 2025, Payward bought retail futures platform NinjaTrader for $1.5 billion. The three deals together strengthen Payward's position across spot trading and derivatives, while adding wallet infrastructure.

The transfer of the wallet business to Payward Services is subject to standard closing conditions.