Payward Plans $550 Million Acquisition of Bitnomial to Accelerate Expansion in U.S. Compliant Derivatives Market

Odaily News: Payward, the parent company of cryptocurrency exchange Kraken, announced its intention to acquire 100% equity of digital asset derivatives platform Bitnomial for up to $550 million (cash + stock). The transaction is expected to be completed in the first half of 2026, pending regulatory approval.

Bitnomial is the first crypto-native platform to simultaneously hold all three key U.S. derivatives licenses: Designated Contract Market (DCM), Derivatives Clearing Organization (DCO), and Futures Commission Merchant (FCM). This acquisition will enable Payward to rapidly obtain a fully compliant derivatives infrastructure, significantly accelerating its expansion in the U.S. market.

Upon completion of the deal, Bitnomial's clearing and trading capabilities will be integrated with platforms such as Kraken and NinjaTrader, offering U.S. clients products including spot margin, perpetual contracts, and options, all under CFTC regulation.

The acquisition will also expand Payward Services' business, allowing banks, fintech companies, and brokerages to access the U.S. compliant derivatives market through a single API.

Industry observers believe that as the market recovers and valuations are restored, merger and acquisition activities in the crypto sector are rebounding. Leading institutions are acquiring key capabilities in compliance, custody, and derivatives to accelerate their transformation into institutional-grade comprehensive trading platforms. (CoinDesk)