Kraken's $550 Million Deal to Enter US Crypto Derivatives Market

Kraken's acquisition of Bitnomial is a significant step towards expanding its regulated US crypto derivatives offerings.

The deal values Bitnomial at up to $550 million, with Payward agreeing to acquire 100% of the company in cash and stock. The acquisition gives Kraken a full federal framework for building out regulated crypto derivatives in the United States.

Bitnomial holds a rare set of regulatory licenses in the US, including Designated Contract Market (DCM), Derivatives Clearing Organization (DCO), and Futures Commission Merchant (FCM). This infrastructure will now feed into Kraken's broader ecosystem, including sister platform NinjaTrader.