Magic Labs, Embedded Wallet Provider for Polymarket & Naver, Integrates Newton Protocol for Onchain Compliance
Announcement highlights PayPal Ventures-backed Magic Labs’ transfer to make compliance plug-and-play and reasonably priced for 200,000 builders and to convey institutional-grade safeguards to 50 million wallets via the combination of Newton Protocol’s onchain coverage engine.
Magic Labs, the core developer behind the Newton Protocol, will combine and make obtainable the Newton SDK to its community of greater than 200,000 builders and 50 million wallets, bringing programmable compliance straight into the transaction layer of Magic-powered functions.
The integration marks the most important deployment to this point of programmable compliance infrastructure throughout a stay developer community, enabling builders to design functions with verifiable coverage enforcement and automatic danger administration in-built.
“Magic secures the account. Newton Protocol secures the transaction,” mentioned Jaemin Jin, Co-Founder and President of Magic Labs.
“By integrating Newton Protocol’s programmable coverage layer into wallets, we’re giving builders a compliance-ready framework that extends Magic’s belief mannequin from onboarding to execution.”
Magic Labs, the one pockets supplier licensed underneath SOC 2 Type 2, ISO 27001:2022, and HIPAA, will prolong its safety framework past onboarding and authentication to incorporate coverage enforcement on the transaction layer. With Newton Protocol, builders can automate compliance checks – resembling KYC, AML, sanctions screening, or asset restrictions – with out sustaining their very own in-house danger or authorized infrastructure.
“By bringing Newton Protocol to Magic builders, we’re making compliance a local a part of the onchain improvement expertise for tons of of 1000’s of builders,” added Mohammad Akhavannik, Managing Director of the Magic Newton Foundation.
“This is a significant step towards verifiable, compliant automation at scale whereas blockchain adoption continues to speed up.”
From Polymarket to Programmable Policy
The announcement builds on the success of Magic Labs pockets infrastructure being used by Polymarket, the world’s largest prediction market, which processes billions in onchain quantity. During the 2024 U.S. election night time, Polymarket dealt with over $3 billion in transactions with zero downtime and sub-second response occasions, powered by Magic’s embedded wallets. To date, Magic Labs has supported over $8.9 billion in transaction quantity for Polymarket alone.
Leveraging Newton Protocol, Magic Labs collectively developed a step-up 2FA coverage framework for Polymarket that provides an additional layer of verification for high-risk actions as outlined by Polymarket, dynamically imposing withdrawal and transaction guidelines via Newton Protocol’s verifiable, privacy-preserving coverage ledger. This collaboration with Polymarket proves the effectiveness of programmable, onchain compliance for real-world functions.
A New Standard for Onchain Compliance
Unlike conventional compliance programs hardcoded into good contracts or confined to centralized rule engines, Newton Protocol offers a common coverage layer that works throughout chains and is appropriate with the openness of DeFi.
Developers can outline coverage guidelines utilizing offchain oracle information, resembling proof-of-reserves, sanctions lists, or id checks, that replace as rules change to supply verifiable onchain proofs of compliance.
Each coverage analysis generates a cryptographic attestation on Newton Explorer, with enforcement executed by a decentralized operator community secured via EigenLayer restaking.
For builders with out devoted compliance groups, Newton Protocol connects seamlessly to third-party information suppliers, from id verification to pockets danger scoring, to assist implement world regulatory expectations resembling OFAC, KYC/AML/CFT, SEC, and MiCA requirements.
About Magic Labs
Magic Labs is the lead developer for Newton Protocol. In addition to protocol improvement, Magic provides safe, compliant and versatile TEE-based API wallets. Since 2018, Magic has introduced over 50M wallets onchain and is trusted by 200K+ builders and main manufacturers like Forbes, Helium, Polymarket, WalletConnect, and Naver. Magic Labs has raised roughly $90 million from traders together with PayPal Ventures, Placeholder, DCG, Volt Capital, Polygon, Balaji Srinivasan and others.
Follow updates on X at @magic_labs and @MagicNewton.
About Newton Protocol
Newton Protocol, secured by NEWT, is the primary coverage protocol designed to manipulate the brand new period of property resembling stablecoins, RWAs and AI, which require extra compliance and composability than good contracts enable. Newton Protocol establishes a safe framework to convey the $250T world investable asset market onchain, plus tons of of trillions in RWAs, by creating insurance policies for each offchain and onchain information.
Magic Newton Foundation oversees the analysis, improvement and group initiatives of the Newton Protocol. The Foundation’s mission is to convey programmable belief and compliance to the following technology of blockchain, AI and monetary programs via open-source infrastructure and clear governance. For a deeper dive into Newton Protocol, learn the newest litepaper.
Follow updates on X at @newtfoundation.
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