@magic_labs

Magic Labs is an established wallet infrastructure provider with 60M+ wallets deployed, $80M+ raised from top-tier investors including PayPal Ventures, and integrations with major platforms like Polymarket, Helium, and Immutable.

Recently announced rebranding to Newton Labs with their wallet business acquired by Kraken, shifting focus to authorization layer for onchain finance.

Not early-stage—account from 2020, proven enterprise traction, mainstream recognition.

Green flags: Proven product with 60M+ wallets and $10B+ stablecoin volume processed · Backed by PayPal Ventures and other top-tier investors with $80M+ raised · Major enterprise clients including Polymarket, Helium, Immutable, HashPack

Red flags: Already established—4+ year old account, 60M wallets deployed, well-known in crypto infrastructure space · Not early-stage—significant VC backing, mainstream adoption, enterprise-grade product · Wallet business acquired by Kraken, pivoting to Newton Labs—past maturity phase