Payward to buy CFTC-licensed Bitnomial for up to $550M, consolidating U.S. crypto derivatives stack

Payward Inc., the parent company of crypto exchange Kraken, has agreed to acquire digital-asset derivatives platform Bitnomial for up to $550 million in cash and stock, according to the companies’ announcement and reporting on the deal ^{[1] [2]}.

The acquisition brings together a full U.S. derivatives stack: Bitnomial operates an exchange, brokerage and clearing infrastructure and is described as fully CFTC‑licensed, enabling Payward to offer a regulated derivatives platform in the United States ^{[1] [3] [2]}.

Company and market reporting say the deal is intended to accelerate Payward’s expansion in regulated markets and to secure critical U.S. derivatives plumbing; coverage notes the transaction arrives as other institutional investors, including a reported $200 million backing from Deutsche Börse for related U.S. build‑out efforts, are supporting similar initiatives ^{[2] [4]}.

Payward’s purchase of Bitnomial for up to $550 million consolidates a fully licensed U.S. derivatives stack under the Kraken parent and is presented by both the company and reporters as a strategic move into regulated U.S. derivatives markets ^{[1] [2]}.