Partners with Nasdaq to enable tokenized stock trading.

Acquired Magna, integrating its token lifecycle infrastructure (onchain/offchain vesting, white-label claims, custody/escrow workflows, and specialized staking functionality) into Kraken's services.

Reported FY 2025 financial results with $2.2B adjusted revenue (up 33% year-over-year), $531M adjusted EBITDA (up 26% year-over-year), $2.0T platform transaction volume (up 34% year-over-year), $48.2B assets on platform (up 11% year-over-year), 5.7M funded accounts (up 50% year-over-year), and futures DARTs up 119%.

Operates as unified infrastructure layer powering Kraken and acquired products including NinjaTrader, Breakout, and xStocksFi through shared liquidity pool, risk engine, collateral system, and compliance framework.