Kraken Parent Payward Agrees to Buy Bitnomial for Up to $550 Million
Payward agreed in April 2026 to acquire Bitnomial, a US derivatives firm with CFTC exchange, clearing and brokerage licenses, for up to $550 million.
Payward, Kraken's parent company, announced on April 17, 2026 that it had signed a definitive agreement to acquire Bitnomial. The price is up to $550 million in cash and stock, in a deal that values Payward's equity at $20 billion.
What Bitnomial brings
Bitnomial is a US derivatives company built for digital assets. It holds all three licenses the Commodity Futures Trading Commission (CFTC) issues for a full trading business: exchange, clearinghouse and brokerage. Kraken says Bitnomial was the first crypto-native company in the US to put that full set together, after more than ten years of work.
Bitnomial's founder and CEO, Luke Hoersten, listed some of its firsts, including the first US perpetual futures, the first CFTC-regulated crypto margin collateral and native crypto settlement.
Plans for US clients
Payward said the deal would let it offer spot margin, perpetual futures and options to US clients under CFTC rules, distributed through Kraken, NinjaTrader and its other products.
The first result came in June 2026, when Kraken launched CFTC-regulated perpetual futures for US traders, listed on Bitnomial.
Source: Official exchange announcement
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