Payward Expands into Regulated Derivatives Market with Bitnomial Acquisition

Payward, the parent entity of Kraken, has made a significant move in the cryptocurrency derivatives market by acquiring Bitnomial, a US-based derivatives platform, for approximately $550 million. This acquisition will provide Payward with a CFTC-regulated trading venue, clearinghouse, and brokerage infrastructure, further solidifying its position in the regulated crypto futures and options landscape across the United States.

The deal marks a strategic expansion of Payward's presence in the US derivatives market, which is expected to continue growing. The acquisition will allow Payward to offer institutional clients a comprehensive platform for trading and clearing crypto futures and options products.