Payward Acquires Bitnomial for $550M
Analysis based on 23 articles · First reported Apr 17, 2026 · Last updated May 04, 2026
The acquisition of Bitnomial by Payward significantly expands Payward's regulated crypto derivatives offerings in the United States, potentially increasing institutional adoption of crypto-linked derivatives. This move is expected to boost investor confidence in the regulated crypto market and could lead to increased trading volumes for Kraken and NinjaTrader.
Payward, the parent company of Kraken, has completed its acquisition of Bitnomial for up to $550 million in cash and stock. This strategic move grants Payward a full suite of United States — United States Commodity Futures Trading Commission licenses, including a brokerage, a clearinghouse, and an exchange, enabling it to offer regulated spot margin, perpetual futures, and options to United States clients. The deal, which values Payward's equity at $20 billion, accelerates Payward's entry into the tightly controlled United States derivatives market and strengthens its B2B infrastructure platform, Payward Services. This acquisition builds on Payward's global derivatives strategy, following previous acquisitions and product launches in the United Kingdom and Europe. Luke Hoersten, Founder and CEO of Bitnomial, and Arjun Sethi, Co-CEO of Payward and Kraken, emphasized the importance of Bitnomial's crypto-native clearing infrastructure for the future of digital asset derivatives.
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