[Kraken Parent Company Acquires Magic Labs Wallet Business, Original Company Transitions to Focus on Newton Protocol] According to The Block, Kraken's parent company Payward has agreed to acquire Magic Labs' embedded wallet business through an asset sale. Both parties will maintain independent company structures. Since 2018, Magic Labs has created over 60 million wallets and served more than 200,000 developers. After the transaction is completed, wallet customers will be migrated to Payward Services. Magic Labs will be renamed Newton Labs and will focus on developing the Newton Protocol, an on-chain financial authorization layer designed to pre-execute compliance, security, and risk control strategies before transactions are recorded on-chain.