Kraken Parent Payward Acquires Bitnomial, Expanding US Derivatives Offerings
- Payward has completed its acquisition of Bitnomial for up to $550 million in cash and stock.
- Bitnomial is the first fully CFTC-licensed crypto derivatives platform in the U.S., enabling trading of options and futures.
- Kraken users can now trade derivatives on Bitcoin, Ethereum, XRP, and other altcoins with crypto as margin collateral.
- Payward now holds complete U.S. derivatives licenses, including a Futures Commission Merchant and a Designated Contract Market.
- The acquisition positions Kraken for future product expansions in regulated markets.
With this acquisition, Payward aims to enhance its U.S. derivatives business by launching spot margin services initially, followed by perpetuals and options trading for eligible clients on Kraken and NinjaTrader.
This strategic move allows Kraken to offer a comprehensive range of crypto derivatives products while valuing Payward’s equity at $20 billion based on the acquisition terms. (Source)
