Kraken (Payward) acquires the U.S. crypto derivatives platform Bitnomial for $550 million

• Payward’s valuation: Under this deal, Payward’s own market capitalization is valued at $20 billion.
• The deal is expected to close in the first half of 2026, following regulatory approvals.

Bitnomial is the first crypto-focused platform in the U.S. that already holds all three key licenses from the CFTC: as an exchange, as a clearinghouse, and as a broker.

The acquisition of this company allows Kraken to save years of time in obtaining licenses and immediately offer U.S. customers regulated crypto derivatives, including options, perpetual futures, and spot margin trading.