What MagicLabs does

Magic Labs, Inc. (operating as Magic) is a San Francisco-based wallet-as-a-service provider founded in 2018 that sells non-custodial embedded wallet infrastructure to enterprises and developers building onchain applications. Its core product is a unified API and SDK that provisions wallets for end users and AI agents, supports sub-second (50–100ms) wallet creation and transaction signing, and abstracts key management through AWS Nitro Enclaves combined with Shamir Secret Sharing so that key reconstruction and signing occur strictly inside trusted execution environments. The platform supports multiple chains (EVM, Solana, Bitcoin, Hedera, XDC, Tezos) and integrates with identity providers such as Auth0, Firebase, and NextAuth, as well as payment and account-abstraction partners (MoonPay, Safe, ZeroDev, Alchemy, Stripe, LI.FI, Zyfi). Magic has filed a portfolio of patents covering its wallet and TEE architecture and maintains SOC 2 Type 2, ISO 27001:2022, GDPR, and CCPA compliance. Since 2018, the platform has provisioned 53M+ wallets, served 200,000+ developers, and powered 18,000+ applications.

The company operates a hybrid go-to-market: a product-led free Developer tier (up to 1,000 monthly active wallets) drives self-serve developer adoption, a $99/month Startup tier targets early-stage teams with usage-based overage of $0.04/MAW, and an Enterprise tier offers custom pricing with transaction-based billing as low as $0.001 per transaction, white-glove support, custom SLAs, and advanced MFA. Marquee enterprise customers include Polymarket (sole embedded wallet provider since 2020, enabling $10B+ in stablecoin payments and 50x MAU growth), Picnic ($200M+ in volume, largest DeFi platform in Brazil), and consumer-brand and Web3-infrastructure logos such as Mattel, Macy's, Forbes, Immutable, WalletConnect, Polygon, Decentraland, Helium, Reown, Naver, HashPack, and TYB. The company has raised over $80M in venture funding (most recently a $52M strategic round in May 2023 led by PayPal Ventures at a ~$500M post-money valuation) and is led by co-founders Sean Li (CEO), Arthur Jen (Technical Fellow), and Jaemin Jin (CPO/President). Beyond core wallets, Magic is extending its platform with Newton Protocol (a policy layer for AI agents and onchain assets), Stablecoin Payments, Agent Services, Staking, Swapping, Token Gating, and Fiat On-Ramp modules, with stated geographic expansion into EU and APAC.

Name

MagicLabs

Legal name

Magic Labs, Inc.

Website

https://magic.link

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

11–50 employees

Short description

Magic Labs provides a non-custodial embedded wallet-as-a-service platform via API, enabling enterprises and developers to provision blockchain wallets, sign transactions, and enforce onchain policy across multiple chains using TEE-secured key management.

Ownership category

akta.pro rank

Product category

Web3 Wallet Infrastructure

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232)

SIC

Finance Services (6199)

akta.pro primary industry

Wallet Infrastructure (SDKs, Wallet-as-a-Service) (FSADACAD)

akta.pro secondary industries

Account Abstraction & Smart Wallet Tooling (AA SDKs, paymasters, session keys) (FSAPABAK), Wallet Connectivity & Session Protocols (WalletConnect, deep links, QR, auth sessions) (FSAPACAF), Embedded Wallets (Platforms & Marketplaces) (FSAMAEAM)

Keywords

• Embedded wallet infrastructure
• Web3 authentication
• Wallet-as-a-service
• Blockchain onboarding
• Non-custodial wallets

Headquarters

HQ city

San Francisco

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Infrastructure, Marketing or Sales, Operations

Revenue model

1. Subscription - Developer Tier: Free tier for individual builders with up to 1,000 Monthly Active Wallets. Includes email, SMS, social, external wallet logins, wallet UI widgets, token gating, fiat on-ramp, and email & community support.
2. Subscription - Startup Tier: $99/month for early-stage teams with up to 2,500 Monthly Active Wallets. Adds MFA, session management, login data export, prioritized support, and up to 5 team seats. Additional MAWs at $0.04 each.
3. Subscription - Enterprise Tier: Custom pricing for large organizations with negotiated Monthly Active Wallets and transaction-based pricing as low as $0.001/tx. Includes white-glove support, dedicated Slack channel, custom SLAs, onboarding support, advanced MFA (SMS, WebAuthn, threat-based, step-up).
4. Usage-Based MAW Fees: Additional Monthly Active Wallets beyond tier limits charged per-wallet: $0.045/MAW (Developer), $0.04/MAW (Startup), custom pricing for Enterprise.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels11 records

Core offering

Magic Labs provides non-custodial embedded wallet infrastructure via a production-ready API that enables developers and enterprises to provision wallets for users and agents, sign transactions, and automate onchain actions. The platform supports flexible authentication (email, social, passkeys, SSO), TEE-secured key management using AWS Nitro Enclaves and Shamir Secret Sharing, and multi-chain coverage (EVM, Solana, Bitcoin, Hedera, XDC, Tezos) through a unified interface.

Product overview

Magic Labs operates as a wallet-as-a-service (WaaS) provider offering a unified platform of embedded wallet infrastructure and blockchain services. The core product is Magic Embedded Wallets—a non-custodial, API-driven wallet solution—supplemented by the Newton Protocol for programmable policy and compliance, and Newton Products including Agent Services, Staking, and Swapping Functionality. Additional modules include Stablecoin Payments for enterprise payment processing, Token Gating for access control, and Fiat On-Ramp for crypto purchases. All offerings share a common infrastructure layer providing flexible authentication (email, social, SSO, passkeys), TEE-secured key management, and multi-chain support (EVM, Solana, Bitcoin, Hedera) through a unified API.

Differentiator

Problem solved

Functional benefit

Products and services

• Magic Embedded Wallets Non-custodial embedded wallet infrastructure that enables enterprises and developers to provision wallets for users and agents via API, with 50-100ms latency for wallet creation and transaction signing, supporting millions of wallets at scale.
• Magic API A production-ready REST API combining embedded wallet creation, transaction signing, and onchain automation into one seamless experience for developers building onchain applications.
• Newton Protocol A policy protocol designed to govern AI and assets such as stablecoins and RWAs, verifying onchain actions are within predefined policy, handling complex AI reasoning, and composable across chains while preserving privacy.
• Stablecoin Payments Enterprise-grade stablecoin payment infrastructure enabling instant settlement, global payouts, and automated transfers with secure, compliant wallet infrastructure for blockchain-based payments.

Quantifiable outcome

• Sub-second wallet creation and transaction signing (50-100ms latency)
• +5 more outcomes

Named customers15 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration10 records

AI capability4 records

Feature10 records

Partnerships

Twelve partnerships are on record, tiered core and major.

• Newton FoundationcoreStrategic or Co-development PartnerMagic Newton Foundation is developing Newton Protocol, the first policy protocol for governing AI and assets. Magic Labs collaborated to integrate Newton Protocol SDK into the Magic Labs developer platform, offering pre-transaction risk and compliance controls.
• PolymarketcoreTechnology or IntegrationPolymarket, world's largest prediction market, has relied on Magic as sole embedded wallet provider since 2020. Partnership deepened to re-architect wallet experience for scale. Enables $10B+ in stablecoin payments and 50x user growth.
• HashPackcoreTechnology or IntegrationLeading Hedera wallet integrated Magic's embedded wallet infrastructure to enable email-based wallet creation. Eliminates seed phrase friction while maintaining full non-custodial security.
• PicniccoreTechnology or IntegrationLargest DeFi platform in Brazil uses Magic's embedded wallet infrastructure. Powers $200M+ transaction volume across crypto investment, DeFi, and Visa card spending.
• WalletConnectcoreTechnology or IntegrationLeading blockchain connection protocol partner using Magic's wallet infrastructure for seamless onchain experiences.
• NavermajorTechnology or IntegrationMajor South Korean tech company partner using Magic's embedded wallet infrastructure.
• ImmutablemajorTechnology or IntegrationMajor blockchain gaming platform partner using Magic's wallet infrastructure for gaming applications.
• DecentralandmajorTechnology or IntegrationVirtual reality platform powered by Ethereum uses Magic to seamlessly onboard users driving platform's growth and success.
• HeliummajorTechnology or IntegrationBlockchain IoT platform partner using Magic's wallet infrastructure.
• ReownmajorTechnology or IntegrationBlockchain infrastructure partner using Magic's wallet technology.
• Tezos FoundationmajorTechnology or IntegrationDeepening integration between Magic and Tezos Foundation for simplified Web3 adoption. Two pioneers in blockchain space collaborating.
• ForbesmajorTechnology or IntegrationMedia company partner using Magic's wallet infrastructure for Web3 experiences.

Scale indicators12 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Privy: Privy offers an embedded wallet and authentication SDK/API directly competing with Magic's core WaaS offering across consumer apps, DeFi, and gaming. Both target developer-first onboarding with freemium tiers and similar email/social/SSO login flows. Privy is widely regarded as Magic's closest head-to-head competitor.
• Web3Auth (Torus): Web3Auth provides non-custodial key management and embedded wallets using MPC and sharded key infrastructure, directly competing with Magic's TEE-based TKMS. Both target app developers seeking passwordless Web3 onboarding and share integration patterns with Auth0, Firebase, and other identity providers.
• Dynamic: Dynamic is a developer-first embedded wallet and authentication platform competing head-on with Magic across multi-chain support, OAuth login, and consumer-friendly onboarding. It targets the same ICP (Web3 startups, fintechs, consumer apps) with comparable freemium-to-enterprise pricing tiers.
• Turnkey: Turnkey provides embedded wallet and signing infrastructure using secure-enclave-based key management similar in architectural philosophy to Magic's TEE approach. Both target developers building wallets-as-a-service for crypto apps and increasingly AI agents, with overlap in enterprise security/compliance positioning.

Broad incumbents

• Fireblocks: Fireblocks is an institutional digital asset custody and transaction infrastructure provider using MPC and secure enclave technology. While Magic focuses on consumer/developer-embedded wallets and Fireblocks on institutional custody, both share secure-enclave-based key management and serve overlapping enterprise customers moving funds onchain.
• Coinbase Developer Platform (formerly BUIDL/Wallet): Coinbase's developer platform offers CDP Wallets (formerly hosted wallets) which competes directly with Magic's enterprise WaaS offering. As the largest US-regulated exchange, Coinbase bundles wallet infrastructure with broader exchange, custody, and fiat on-ramp services — a broader portfolio play vs. Magic's specialist focus.

Emerging players

• Particle Network: Particle Network provides modular Web3 infrastructure including embedded wallets, account abstraction, and chain abstraction — overlapping with Magic's multi-chain + AA SDK positioning. It is a smaller, more emerging competitor focused on Asian markets and chain-agnostic UX, but addresses similar developer use cases.
• Safe (formerly Gnosis Safe): Safe provides smart contract wallet infrastructure and account abstraction tooling that Magic explicitly integrates with (via Safe Smart Accounts). It is both an integration partner and an emerging competitor for AA-native wallet experiences at the protocol level.
• Lit Protocol: Lit Protocol provides decentralized key management and signing infrastructure for wallets, agents, and apps. While smaller and more crypto-native than Magic, it overlaps on programmable signing and TEE/MPC primitives relevant to AI-agent and automated transaction use cases.
• Crossmint: Crossmint offers enterprise-grade Web3 infrastructure including wallets-as-a-service and fiat on-ramps targeted at consumer brands, gaming, and fintechs — an overlapping ICP with Magic's enterprise-brands and developer customer segments. Crossmint has a stronger tilt toward credit-card-based checkout flows.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/magic_labs
• GitHubgithub.com/MagicLabs
• YouTubeyoutube.com/channel/UCe9Itc4HfUnqXO4wJk9mo3Q
• LinkedInlinkedin.com/company/magiclabs-inc
• Facebookfacebook.com/magiclabs.inc

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds4 records

Investors18 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about MagicLabs