Kraken's parent company Payward to acquire derivatives exchange Bitnomial for $550 million in cash and stock
CoinDesk·3d ago·Neutral
What Happened
Kraken's parent company Payward agreed to acquire crypto derivatives platform Bitnomial for up to $550 million in cash and stock, valuing the firm at $20 billion. Bitnomial holds all three U.S. licenses for full-stack derivatives operations. The acquisition accelerates Payward's regulatory expansion in the domestic market.
Key Entities
PaywardKrakenBitnomial$550 million$20 billion valuationcrypto derivativesU.S. regulatory licenses