Payward to acquire Bitnomial for $550M
6.8 Investments Payward, Kraken's parent, will acquire Bitnomial for up to $550M, gaining a fully licensed U.S. crypto derivatives stack and accelerating expansion in regulated markets.
Payward, the parent company of Kraken, has agreed to acquire Bitnomial, a U.S.-based crypto derivatives platform, for up to $550 million in cash and stock. This move will provide Payward with a fully licensed U.S. crypto derivatives stack, including a brokerage, clearinghouse, and exchange, significantly accelerating its expansion into regulated markets. Bitnomial is the first crypto-native platform in the U.S. to secure all three essential licenses required to operate a full-stack derivatives business. This allows it to function as a designated contract market, derivatives clearing organization, and futures commission merchant. The deal is expected to close in the first half of 2026, pending regulatory approvals. The acquisition enables Payward to bypass years of regulatory buildout by integrating Bitnomial’s established infrastructure, supporting Payward’s strategy to expand its U.S. derivatives offerings and raising its valuation to $20 billion.
