Kraken parent Payward completes Bitnomial acquisition, unlocking US crypto derivatives offering
With the deal closed, Payward now holds a full suite of U.S. derivatives licenses issued by the Commodity Futures Trading Commission.
Kraken's parent company Payward has successfully completed its acquisition of Bitnomial, a regulated derivatives exchange, marking a significant milestone in the crypto giant's U.S. expansion strategy. The deal provides Payward with a comprehensive suite of derivatives licenses issued by the Commodity Futures Trading Commission (CFTC), positioning the company to offer regulated crypto derivatives products to American customers.
Bitnomial, founded in 2017, operates as a CFTC-regulated derivatives clearing organization and designated contract market. The Chicago-based exchange specializes in bitcoin and ethereum futures and options contracts. Kraken initially announced its intention to acquire Bitnomial earlier this year as part of its broader effort to expand compliant trading services in the United States, where regulatory clarity for crypto derivatives has been a persistent challenge for exchanges.
The completed acquisition addresses a crucial gap in Kraken's U.S. offerings, as the exchange previously lacked the regulatory framework to provide derivatives trading to American users. With full CFTC licensing now secured, Payward can compete more directly with established players like CME Group and other regulated exchanges offering crypto derivatives. This move comes as institutional demand for regulated crypto exposure continues growing.
Industry observers will be watching how quickly Kraken integrates Bitnomial's infrastructure and begins rolling out derivatives products to its U.S. customer base.
Source: The Block
