Kraken's parent company, Payward, has agreed to acquire Bitnomial, a digital asset derivatives platform, in a cash-and-stock deal valued at $550 million. This move enables Payward to shortcut years of regulatory buildout in the US, as Bitnomial is the first crypto-native platform to obtain all necessary licenses for operating a full-stack derivatives business. The acquisition is part of Payward's strategy to expand its US footprint and consolidate its position in the crypto derivatives market. With this deal, Payward gains control over a fully regulated US derivatives stack, complementing its existing global distribution and liquidity across brands like Kraken and NinjaTrader.
The combined platform will offer spot margin, perpetual futures, and options for US clients under the oversight of the Commodity Futures Trading Commission. The transaction is expected to close in the first half of 2026, subject to customary conditions and regulatory approvals.