TechFlow News, May 4: According to The Block, Payward—the parent company of Kraken—has announced the completion of its acquisition of Chicago-based crypto-native exchange Bitnomial, thereby obtaining a full suite of U.S. derivatives licenses from the Commodity Futures Trading Commission (CFTC), including Futures Commission Merchant (FCM), Designated Contract Market (DCM), and Derivatives Clearing Organization (DCO) designations. Payward stated it will first launch spot margin trading on Kraken, followed by perpetual contracts and options products, all available to eligible U.S. customers.
This acquisition will also provide banking institutions, broker-dealers, and payment service providers with a channel to offer U.S. derivatives to their end clients. Bitnomial will operate independently under Payward while retaining its existing licenses and regulatory framework. The transaction’s total value is reported to be up to $550 million—including cash and stock—implying a valuation for Payward of approximately $20 billion; however, the final terms remain undisclosed.
