Kraken expands into U.S. crypto derivatives market

Payward, Kraken's parent, acquired Bitnomial and secured all major U.S. derivatives licenses. Kraken can now offer regulated crypto derivatives to U.S. clients, starting with spot margin trading.

Payward, the parent company of Kraken, has finalized its acquisition of Bitnomial, obtaining all three key U.S. Commodity Futures Trading Commission licenses: Futures Commission Merchant, Designated Contract Market, and Derivatives Clearing Organization. This strategic move enables Kraken to expand beyond spot trading and offer regulated crypto derivatives—including spot margin, perpetuals, and options—to U.S. clients. The rollout will begin with spot margin trading on Kraken, with perpetuals and options to follow. Bitnomial, a Chicago-based crypto-native exchange, will continue to operate within Payward, maintaining its regulatory framework and third-party business relationships. This acquisition positions Kraken as a major player in the U.S. crypto derivatives market, providing a compliant, integrated entry point for both institutional and retail clients. The terms of the deal remain undisclosed, but the transaction marks a significant shift for Kraken’s U.S. operations.