BlockBeats news, on May 4, Kraken’s parent company Payward announced the completion of its acquisition of Bitnomial, marking its official compliance qualification to offer cryptocurrency derivatives services in the United States.
After the transaction, Payward now holds a full license framework issued by the Commodity Futures Trading Commission (CFTC), including registrations as a Futures Commission Merchant (FCM), Designated Contract Market (DCM), and Derivatives Clearing Organization (DCO), enabling it to offer spot margin, perpetual contracts, and options trading services to eligible U.S. customers.
Payward and Kraken Co-CEO Arjun Sethi said the company will prioritize launching spot margin products on the Kraken platform, followed by a phased rollout of perpetual contracts and options.
Bitnomial, headquartered in Chicago, is one of the few platforms in the U.S. with a comprehensive crypto derivatives licensing framework. Following the acquisition, it will retain its existing licenses and business structure as the core vehicle for Payward’s U.S. derivatives strategy.
In addition, Payward stated that the transaction will provide new access to the U.S. cryptocurrency derivatives market for partners such as banks, broker-dealers, and payment institutions. Previously, the company received a $200 million investment from Deutsche Börse Group and has confidentially submitted its listing application to the SEC.