According to The Block, Payward, the parent company of Kraken, has announced the completion of its acquisition of Bitnomial, a Chicago-based crypto-native exchange, and has obtained a full suite of derivatives licenses from the U.S. Commodity Futures Trading Commission (CFTC), including Futures Commission Merchant (FCM), Designated Contract Market (DCM), and Derivatives Clearing Organization (DCO) registrations. Payward stated it will first launch spot margin services on Kraken, followed by perpetual contracts and options products for eligible U.S. customers. This acquisition will also provide partners such as banks, brokers, and payment service providers with a channel to offer U.S. derivatives to end clients. Bitnomial will operate independently under Payward, retaining its existing licenses and regulatory framework. The transaction value is reported to be up to $550 million (including cash and stock), implying a Payward valuation of approximately $20 billion; final terms have not been disclosed.
Kraken's parent company acquires Bitnomial to expand in the U.S. crypto derivatives market.
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Summary
Kraken’s parent company, Payward, has acquired Bitnomial, a CFTC-licensed crypto derivatives exchange, to expand U.S. crypto markets. The deal, valued at up to $550 million, grants Payward a full suite of CFTC derivatives licenses and access to crypto market liquidity. Kraken will initially launch spot margin services, followed by perpetual contracts and options for U.S. customers. Bitnomial will operate independently under Payward, maintaining its existing regulatory framework. The move also aims to connect banks and brokers to U.S. derivatives markets. Payward’s valuation now exceeds $20 billion.
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