Payward's $550 Million Acquisition of Bitnomial Strengthens US Crypto Derivatives Presence

Payward, the parent company of cryptocurrency exchange Kraken, has made a significant move in the global digital asset market by agreeing to acquire Bitnomial, a fully licensed derivatives company based in the United States.

According to reports, the deal is worth up to $550 million in cash and stock and values Payward's equity at a staggering $20 billion. This acquisition marks a major milestone for both companies, as it provides Payward with a regulated foundation to offer spot margin, perpetual futures, and options to US clients under Commodity Futures Trading Commission (CFTC) oversight.

The capabilities developed by Bitnomial, including native crypto settlement, crypto collateral, and continuous 24-hour markets, cannot be replicated using legacy systems. This means that Payward will need to build these features from scratch, rather than adapting existing ones.

This deal also strengthens Payward's business-to-business infrastructure platform, Payward Services, allowing partners such as banks, brokerages, and fintechs to offer regulated US derivatives products through a single integration. The transaction is expected to close in the first half of 2026.