Payward Acquires Bitnomial for Comprehensive Derivatives Trading Capabilities

Payward, the parent entity of cryptocurrency exchange Kraken, has made a significant move in the crypto market by agreeing to acquire Bitnomial, an American crypto derivatives trading platform. The acquisition is valued at up to $550 million and will grant Payward access to comprehensive derivatives trading capabilities.

The deal involves a combination of cash and stock components, with Payward's valuation standing at $20 billion following the transaction. Bitnomial has been operating for over ten years and holds the distinction of being the first cryptocurrency-focused company to possess the complete trio of CFTC licenses required for operating a comprehensive U.S. derivatives operation.

The acquisition will enable American customers to access spot margin trading, perpetual futures contracts, and options products under CFTC regulatory supervision. This is a significant development in the crypto market, as Payward's ability to offer these products will be subject to strict regulations and oversight.