Kraken's Parent Company Acquires CFTC-Regulated Exchange Platform

Kraken's parent company Payward has made a significant move in the US crypto market by acquiring Bitnomial, a CFTC-regulated exchange platform. The acquisition provides Kraken with complete ownership of a fully licensed crypto derivatives exchange platform, which is expected to strengthen its derivatives infrastructure strategy.

According to an announcement from Payward, the deal values Bitnomial at approximately $20 billion and marks a major step towards expanding access to regulated crypto derivatives in the US. As a CFTC-regulated exchange, Bitnomial holds both exchange and clearinghouse brokerage licenses, making it a fully-compliant platform.

The acquisition is expected to provide Kraken's customers with new services, including perpetual futures, options trading, and spot margin services. These services will be offered to both institutional and retail clients in the US, further expanding Kraken's reach in the market.