Kraken parent company Payward plans to acquire derivatives exchange Bitnomial for $550 million.

Techub News reports, according to CoinDesk, that Payward, the parent company of cryptocurrency exchange Kraken, has reached a definitive agreement to acquire U.S. digital asset derivatives platform Bitnomial for up to $550 million (in cash and stock). The deal values Payward at $20 billion.

Bitnomial is the first crypto-native platform in the U.S. to obtain all three licenses required to operate a full-stack derivatives business: Designated Contract Market (DCM), Derivatives Clearing Organization (DCO), and Futures Commission Merchant (FCM). This acquisition aims to accelerate Payward's expansion into the regulated U.S. market and shorten its regulatory approval process. The combined platform will integrate Bitnomial's infrastructure with Payward's global distribution and liquidity resources from brands like Kraken and NinjaTrader. Initial products are expected to include spot margin, perpetual futures, and options. Additionally, the deal will expand Payward's B2B infrastructure business. This transaction covers 100% of Bitnomial's equity and is expected to be completed in the first half of 2026.