Payward Secures Full CFTC Derivatives Stack with Bitnomial Acquisition

Payward, the parent company of Kraken, has made a significant move in the crypto market with its acquisition of Bitnomial. This deal gives Payward control of Bitnomial's futures broker, exchange and clearinghouse licenses, allowing it to offer regulated crypto derivatives in the U.S.

The acquisition is valued at up to $550 million in cash and stock, with Payward's equity now standing at $20 billion. This transaction follows its previous purchase of retail futures platform NinjaTrader in 2025 for $1.5 billion.

Payward plans to start by offering spot margin on Kraken and NinjaTrader, with perpetual futures and options expected to follow later. The deal also opens up a business-to-business path, allowing banks, fintech firms, and brokerages to connect to regulated U.S. derivatives products through a single integration.