Kraken's parent company, Payward, has agreed to acquire the crypto derivatives platform Bitnomial for $550 million. The deal values Payward at $20 billion.
Bitnomial is the first crypto-native platform to receive all three licenses to operate a full derivatives stack in the US: exchange, clearing organization, and futures commission merchant (FCM). This allows Kraken to bypass years of regulatory hurdles and immediately gain ready infrastructure under CFTC oversight.
The integrated platform will combine Bitnomial's infrastructure with Kraken and NinjaTrader. US clients are planned to be offered spot margin, perpetual futures, and options. Through Payward Services' B2B division, banks and brokers will be able to connect to regulated derivatives via a single API.
The deal is expected to close in the first half of 2026.