Magna

Magna is a token management platform that automates the full lifecycle of digital asset distribution—vesting, unlocks, airdrops, grants, custody, and staking—for crypto projects operating across multiple blockchains. Founded in 2022 and backed by Y Combinator (Winter 2022 batch), Magna has grown into one of the largest token vesting platforms in the ecosystem, managing a peak total value locked of $60 billion across more than 160 client organizations. In February 2026, Magna was acquired by Payward, the parent company of Kraken, and now operates under the "Powered by Kraken" banner while continuing as a standalone product.

The Problem Magna Solves

Before platforms like Magna existed, crypto teams handled token distribution through spreadsheets, manual verification, and improvised scripts. This created compounding operational risk: missed unlock deadlines, unauthorized distributions, tax compliance failures, and an inability to scale when thousands of stakeholders needed simultaneous access to vested tokens. Magna replaces that patchwork with a structured infrastructure layer—a single platform that enforces rules, automates execution, and provides stakeholders with self-service access to their allocations.

How It Works

Magna organizes operations around three core concepts: stakeholders (recipients), allocations (token amounts assigned to each), and unlock schedules (time-based milestones governing when tokens become claimable). Admins configure projects, define vesting contracts, set release schedules, add stakeholders, and fund allocations through the platform. Stakeholders then access their individual portfolios, view allocation details, and claim tokens directly—either through Magna's interface or through whitelabel claim portals embedded in a client's own product.

The platform handles two distinct distribution paths. Onchain vesting deploys smart contracts with built-in cancellation capabilities, giving admins the ability to revoke unvested tokens if a stakeholder relationship ends. Offchain vesting and tax distributions operate through direct custody with support for US and international employee tax withholding, alongside integration with HRIS platforms to automate payroll-adjacent token compensation flows.

Beyond individual distributions, Magna provides grant management tools for tracking and automating ecosystem grants, custody and escrow services with multi-party signing, and custom branded staking pools with dynamic reward configurations. A REST API enables programmatic creation and management of vesting contracts at scale, without requiring manual UI operations.

Solana Integration

Magna has deep roots in the Solana ecosystem and has built specific integrations to suit Solana-native workflows. A notable integration with Squads—Solana's leading multisig protocol—allows teams to connect their existing treasury to Magna, enabling vesting plan creation and token distribution without moving funds out of multi-signature custody. Tokens stay secured within Squads while Magna tops up allocations on demand and handles on-chain claim logic.

Solana clients using Magna include Jito, Tensor, Wormhole, and Magic Eden. Tensor, Solana's largest NFT marketplace at the time, used Magna's REST API to programmatically generate thousands of vesting contracts for power users based on trading activity data—a scale that would be unmanageable through manual processes. A Q3 2025 platform update added native Solana staking pool support, extending Magna's Solana-specific feature set beyond vesting. Espresso used Magna's claim portal infrastructure to launch a million-wallet airdrop in early 2026.

Ecosystem Breadth

While Magna established itself in the Solana ecosystem, the platform operates across Ethereum, Aptos, Arbitrum, Polygon, Base, Avalanche, and additional networks. Multi-chain clients—including Optimism, Berachain, Aptos, and Shiba Inu—use Magna to coordinate token operations across different ecosystems from a single interface.

In July 2025, Magna was selected to join the Tokenized Asset Coalition, indicating interest in expanding its infrastructure toward real-world asset tokenization workflows beyond pure crypto-native use cases.

Security and Compliance

Magna's smart contracts have been audited by Trail of Bits, Zellic, OtterSec, and Guardian Audits—four widely recognized security firms in the blockchain space. The company holds SOC 2 Type 2 certification, covering security, availability, and confidentiality controls relevant to the enterprise clients that entrust the platform with large token allocations.

Team and Funding

Magna was co-founded by Bruno Faviero and Arun Kirubarajan. Faviero previously served as a product manager at Palantir's AI Platform and founded Synapse Technology, an AI-powered threat detection company that Palantir acquired in 2020. Kirubarajan came from Millennium Management as a quantitative trader and was an early employee at Vise, a fintech startup, while also conducting NLP and machine learning research and lecturing in computer science at UPenn.

The company raised a $15 million seed round in September 2022 at a $70 million valuation from 26 investors. In February 2026, Payward—Kraken's parent entity—acquired Magna as part of a strategy to build a fully integrated institutional crypto platform ahead of an anticipated IPO. Magna continues to operate as a standalone product under the same team, with plans to integrate Kraken's custody infrastructure and global regulatory coverage across 190+ countries.

Positioning

Magna's founding tagline—"Carta for Web3"—positioned it as the token equivalent of Carta's equity management software, reflecting the platform's original focus on cap table management and investor vesting. The current positioning, "token management on autopilot," reflects a broader ambition: full-lifecycle automation from token launch through distribution, grants, staking, and treasury operations, with compliance and security built in at each stage.