Payward Completes $550M Bitnomial Acquisition

Payward, the parent company of cryptocurrency exchange Kraken, has completed its acquisition of Chicago-based derivatives platform Bitnomial for up to $550 million in cash and stock, securing a full suite of Commodity Futures Trading Commission licenses to offer regulated crypto derivatives in the United States.

The deal, first announced in mid-April 2026 and finalized this week, provides Payward with Bitnomial's Futures Commission Merchant, Designated Contract Market, and Derivatives Clearing Organization licenses. These approvals enable the company to handle brokerage, trading, and clearing services under a single CFTC-regulated framework, a structure Bitnomial spent over a decade developing since its founding in 2014.

Payward plans to integrate the infrastructure across Kraken and its recently acquired retail futures platform NinjaTrader, starting with spot margin trading for eligible U.S. clients. Perpetual futures contracts and options will follow, according to company statements. The setup also opens business-to-business access, allowing banks, fintech firms, and brokerages to connect to regulated U.S. crypto derivatives through a single integration with Payward Services.