Kraken Parent Expands into US Derivatives Market with Bitnomial Acquisition

Kraken's parent company Payward has made a significant move in the crypto market by acquiring Bitnomial, a fully CFTC-licensed crypto derivatives platform.

With this acquisition, Kraken can now offer regulated spot margin services, perpetuals, and options on Bitcoin, Ethereum, and other altcoins to eligible US clients. The company has also obtained complete US derivatives licenses, including a Futures Commission Merchant, a Designated Contract Market, and a Derivatives Clearing Organization.

Arjun Sethi, Co-CEO of Payward and Kraken, stated that the company will start by launching spot margin services after acquiring Bitnomial, with perpetuals and options to follow. The expansion of Bitnomial's team and operations is also planned as the US derivatives business grows.