Kraken Parent Agrees to $550 Million Acquisition of Regulated Derivatives Firm

Payward, the parent company of cryptocurrency exchange Kraken, has agreed to acquire Bitnomial for up to $550 million in cash and stock. This acquisition will enhance Payward's B2B platform with crypto trading and derivatives capabilities.

The regulatory infrastructure provided by Bitnomial, as the first fully CFTC-licensed derivatives company in the U.S., is a significant addition to Payward's offerings.