Payward Acquires Bitnomial for $550M to Unlock U.S. Crypto Derivatives

Payward, the parent company of cryptocurrency exchange Kraken, has made significant strides in its expansion plans with the acquisition of Bitnomial, an American digital asset derivatives trading venue.

The deal, worth up to $550 million, marks a major milestone for Payward as it seeks to establish itself as a leading player in the U.S. derivatives market.

Bitnomial's unique regulatory status, with three licenses from the Commodity Futures Trading Commission (CFTC), will enable Payward to bypass lengthy licensing processes and offer its customers access to spot margin trading, perpetual futures contracts, and options under federal CFTC supervision.