Kraken's parent company completes the acquisition of Bitnomial, officially opening up the U.S. cryptocurrency derivatives business

According to The Block, Kraken's parent company Payward has announced the completion of its acquisition of Bitnomial, marking its official compliance qualifications to provide cryptocurrency derivatives services in the United States.

After the transaction is completed, Payward will hold a complete licensing system issued by the Commodity Futures Trading Commission (CFTC), including futures commission merchant (FCM), designated contract market (DCM), and derivatives clearing organization (DCO), allowing it to offer spot margin, perpetual contracts, and options trading services to eligible U.S. customers. Payward and Kraken co-CEO Arjun Sethi stated that the company will prioritize launching spot margin products on the Kraken platform, followed by a gradual rollout of perpetual contracts and options products.

Bitnomial, headquartered in Chicago, is one of the few platforms in the U.S. with a complete cryptocurrency derivatives licensing system. After the acquisition, it will retain its original licenses and business structure and serve as the core vehicle for Payward's U.S. derivatives strategy.

Additionally, Payward stated that this transaction will provide new access channels to the U.S. cryptocurrency derivatives market for partners such as banks, brokerages, and payment institutions. Previously, the company also received a $200 million investment from Deutsche Börse Group and has submitted a confidential listing application to the SEC.

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