Kraken completes acquisition of Bitnomial, obtaining a US crypto derivatives license

Techub News, according to crypto.news, Payward has completed the acquisition of Bitnomial, obtaining three core licenses from the U.S. Commodity Futures Trading Commission (CFTC): a Futures Commission Merchant (FCM), a Designated Contract Market (DCM), and a Derivatives Clearing Organization (DCO). Kraken co-CEO Arjun Sethi stated that the company will first launch spot margin trading, followed by perpetual contracts and options products. The transaction is valued at up to $550 million. Bitnomial had previously spent over a decade securing the aforementioned three licenses. Payward stated that after the acquisition, Bitnomial will maintain its regulatory framework and third-party services, while also planning to expand its team. The company also revealed that it submitted a confidential S-1 filing in November last year, considering a public listing.