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>>Payward will acquire Bitnomial, establishing a fully CFTC‑licensed derivatives platform.

Payward will acquire Bitnomial, establishing a fully CFTC‑licensed derivatives platform.

crypthub

about 12 hours ago

Acquisition Overview

Payward (Kraken) announced a definitive agreement to acquire Bitnomial for up to $550 million in cash and stock. The deal values Payward’s equity at $20 billion. Bitnomial will become a wholly‑owned subsidiary, with the transaction expected to close in the first half of 2026. The acquisition follows customary closing conditions and required CFTC notices.

Regulatory Milestone

Bitnomial is the first U.S. crypto‑native exchange holding all three CFTC licenses—exchange, clearinghouse, and brokerage. It spent a decade building a native crypto settlement, collateral, and 24/7 market infrastructure that cannot be retrofitted onto legacy systems. This fully CFTC‑licensed stack provides a regulated foundation for spot margin, perpetuals and options in the United States.

Strategic Benefits

Combining Bitnomial’s infrastructure with Payward’s global client base, liquidity, and platforms such as Kraken and NinjaTrader expands regulated product offerings. CEOs Arjun Sethi and Luke Hoersten emphasized that clearing infrastructure defines market shape and that the partnership enables the next generation of crypto‑settled derivatives. The integrated platform will support tokenized assets and capital‑efficient contracts at scale.

Partner Integration & Advisors

Through Payward Services, fintechs, banks and brokerages can access regulated U.S. derivatives via a single API suite that also includes trading, staking and tokenized equities. The acquisition builds on Payward’s prior licensed futures platforms in the UK (2019) and EU (2025). Advisors included PJT Partners, Haynes Boone, Katten, Jones Day and Morrison Foerster.