Magic Labs

Magic Labs

Passwordless authentication platform for apps

About Magic Labs

Simplify's Rating
Why Magic Labs is rated
B
Rated B on Competitive Edge
Rated A on Growth Potential
Rated C on Differentiation

Industries

Data & Analytics

Enterprise Software

Cybersecurity

Company Size

201-500

Company Stage

Early VC

Total Funding

$85M

Headquarters

San Francisco, California

Founded

2020

Overview

Magic Labs summary: Magic.link provides secure, passwordless authentication for web and mobile apps through a wallet-as-a-service platform. Users sign in with magic links sent to email or SMS, eliminating passwords and reducing security risks. The platform integrates into applications via APIs, offering features like real-time service status, risk and compliance monitoring, and compatibility with various data tools to help developers and businesses secure identities. Unlike many identity providers, Magic.link emphasizes a developer-friendly, subscription-based model with high availability and continuous security oversight to ensure reliable logins and smooth user experiences. The company's goal is to lower the chances of password-based breaches while simplifying authentication for users and clients.

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Simplify's Take

What believers are saying

  • Newton Protocol SDK reaches 200K developers and 50M wallets.
  • Tezos Foundation grant accelerates frictionless dApp onboarding integration.
  • $80M funding from PayPal Ventures fuels multi-chain expansions.

What critics are saying

  • Arbitrum, Optimism embed ERC-4337, commoditizing Magic's wallet layer.
  • Coinbase, Kraken undercut with licensed passwordless embedded wallets.
  • SEC deems non-custodial wallets money transmission, requiring licenses.

What makes Magic Labs unique

  • Magic Labs invented wallet abstraction in 2018 for passwordless web3 onboarding.
  • Newton integrates with Polygon AggLayer for first chain unification network.
  • SOC 2 Type 2, ISO 27001:2022, HIPAA certified wallet infrastructure.

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Funding

Total Funding

$85M

Above

Industry Average

Funded Over

3 Rounds

Early VC funding comparison data is currently unavailable. We're working to provide this information soon!
Early VC Funding Comparison
Coming Soon

Benefits

100% remote team

Flexible hours

Unlimited vacation

Health, dental, & vision coverage

Professional growth stipend

Home office stipend

Top-of-the-line equipment

401k

Growth & Insights and Company News

Headcount

6 month growth

-1%

1 year growth

0%

2 year growth

-5%
Magic Newton Foundation
Nov 13th, 2025
Magic Labs to Bring Newton Protocol to 200K Developers and 50M Wallets

Magic Labs to bring Newton Protocol to 200K developers and 50M wallets. Newton Protocol is joining forces with Magic Labs to make programmable compliance available to one of the largest onchain developer ecosystems. Through this collaboration, Magic Labs will integrate and make available the Newton Protocol SDK to its network of more than 200,000 developers and 50 million wallets, bringing compliance-as-code directly into the transaction layer of Magic-powered applications. Magic Labs, the only wallet provider certified under SOC 2 Type 2, ISO 27001:2022 and HIPAA, already powers secure onboarding and authentication for customers like Polymarket, Naver, WalletConnect and Forbes. By integrating Newton Protocol, Magic extends that same security standard to every onchain transaction. Developers can create customizable pre-transaction controls that automate compliance and risk management, thus reducing operational overhead. "Magic has secured the account. Newton Protocol secures the transaction," said Jaemin Jin, Co-Founder and President of Magic Labs. "By integrating Newton Protocol's programmable policy layer, we're giving developers a compliance-ready framework that extends Magic's trust model from onboarding to execution." Magic Labs selected Newton Protocol for its flexible yet credibly neutral approach to compliance. Unlike other compliance solutions where policy enforcement is programmed into the smart contract on each individual chain, developers can write policy code once and apply it across contracts on any chain, making it ideal for Magic's multi-chain ecosystem. Each policy evaluation produces a cryptographic attestation that can be audited on Newton Explorer and policy enforcement is handled by a decentralized operator network secured through EigenLayer restaking. Secure the future through compliance-as-code. For developers without in-house risk or compliance teams, Newton Protocol integrates with data providers such as identity verification and wallet risk scoring services to help enforce onchain policies aligned with global regulatory expectations, such as OFAC sanctions lists and KYC/AML/CFT obligations to securities oversight (SEC) and digital asset rules (MiCA). Mohammad Akhavannik, Managing Director of Magic Newton Foundation, added: "By bringing Newton Protocol to Magic developers, we're making compliance a native part of the onchain development experience for hundreds of thousands of developers." This collaboration establishes Magic Labs as a distribution partner for Newton Protocol and represents the largest deployment yet of compliance-as-code infrastructure across a live developer network. Learn more about Magic Labs here, and stay tuned to Magic Newton Foundation channels for updates on the integration.

Decrypt
Mar 18th, 2025
What Is A Multi-Sig Wallet? A Beginner’S Guide

Decrypt’s Art, Fashion, and Entertainment Hub. Discover SCENEImagine managing a million-dollar investment fund stored in a cryptocurrency wallet. Everything runs smoothly until a single mistake—clicking a phishing link, visiting a malicious website, or falling victim to an undiscovered exploit—allows hackers to drain the wallet. Just like that, the assets are gone forever.This nightmare scenario has played out in several high-profile crypto thefts, including the Japan-based exchange Coincheck in 2018, the Ronin Network in 2022, and most recently, the Bybit exchange in February 2025. While the causes of these breaches varied—ranging from private key compromises to smart contract exploits—they all underscore the importance of multiple security layers in Web3.One of these protections is the so-called “multi-sig wallet,” which requires more than one person’s signature, via their private key, to authorize a crypto transaction.A cryptocurrency wallet lets users store, send, and receive crypto by managing their private and public keys. When making a transaction, the user, via the wallet, signs it with a private key, proving ownership before broadcasting it to the blockchain for validation

CoinNews
Dec 11th, 2024
Magic Labs Expands Ecosystem with Kadena Integration

Magic Labs expands ecosystem with Kadena integration.

Bitcoinist
Nov 11th, 2024
Qubetics Poised to Hit $0.25: How It Compares to Polygon's Latest AggLayer Testnet and Cardano's Price Jump of 33%

Magic Labs, in partnership with Polygon Labs, has launched a private testnet for Newton, a chain unification network designed to streamline blockchain interoperability within Polygon's AggLayer.

LJSB
Nov 9th, 2024
PayPal-backed Magic Labs and Polygon launch a new cross-chain network aiming to bust 'blockchain silos'

Ethereum ETH +3.88%and Magic Labs, a blockchain onboarding startup, announced Thursday that they are launching a new cross-chain network called Newton.

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