Payward Acquires Bitnomial, Expanding U.S. Derivatives Offerings
- Payward, the parent company of Kraken, has acquired Bitnomial for up to $550 million.
- The acquisition grants Payward a full U.S. derivatives stack regulated by the Commodity Futures Trading Commission (CFTC).
- Payward’s equity is now valued at $20 billion following this transaction.
- The deal allows Payward to offer regulated crypto derivatives without relying on third-party venues.
- In the past day, crypto futures generated around $200 billion in trading volume, significantly surpassing spot market activity.
This acquisition positions Payward to enhance its offerings in the growing U.S. derivatives market as firms seek to bring products onshore under CFTC regulations. With plans to introduce spot margin and perpetual futures, Payward aims to streamline access for banks and fintech companies.
The addition of Bitnomial strengthens Payward’s capabilities in regulated crypto derivatives, reflecting a significant shift in the market with $200 billion in recent futures trading volume.(Source)
