Payward, a leading player in the digital assets market, has made a significant move in its expansion plans by acquiring Bitnomial, a US-based derivatives company. The acquisition, valued at up to $550 million, marks a major milestone for both companies and cements Payward's position as a major force in the global derivatives market.
The deal brings together Bitnomial's fully CFTC-licensed infrastructure with Payward's global client base and deep liquidity. This combination is expected to drive growth and innovation in the US derivatives market, particularly in the area of digital assets. According to Arjun Sethi, Co-CEO of Payward and Kraken, 'The shape of a market is determined by its clearing infrastructure, not its front end.'
Bitnomial has spent over a decade building its regulated foundation, which includes a CFTC-regulated exchange, clearinghouse, and brokerage. This unique set of licenses allows Bitnomial to operate a full-stack domestic crypto trading and derivatives business. The acquisition is expected to scale Bitnomial's team and operations as Payward builds out its US derivatives capabilities.