Description
Magic Labs, formerly known as Fortmatic, was founded in 2018 to simplify the onchain experience by abstracting away complexity. They pioneered wallet abstraction with products like embedded and API wallets, and are now introducing Newton, a system featuring verifiable AI agents for a simpler crypto user experience. Magic provides tools for developers to build across different chains and create user-friendly products. The company emphasizes security and compliance, holding certifications such as SOC 2 Type 2, ISO 27001:2013, and adhering to HIPAA, CCPA, and GDPR standards. They are backed by investors including PayPal Ventures, Polygon, Lightspeed, and Tiger Global.