Payward Secures Crucial US Derivatives Licenses with Completed Bitnomial Acquisition

Payward, the parent company of cryptocurrency exchange Kraken, has finalized its acquisition of Chicago-based Bitnomial, securing crucial US derivatives licenses from the Commodity Futures Trading Commission (CFTC).

The combined licenses cover a Futures Commission Merchant designation, a Designated Contract Market, and a Derivatives Clearing Organization. This move enables Payward to offer CFTC-regulated spot margin, perpetuals, and options to eligible US clients on both Kraken and NinjaTrader.

Co-CEO Arjun Sethi stated that the rollout will begin with spot margin on Kraken, followed by perpetuals and options. The acquisition also creates a new distribution channel for Payward's partners, including banks, brokerages, and payment providers, to offer US derivatives products to their own clients.

Prior to the acquisition, Bitnomial held all three CFTC licenses needed to run a full-stack domestic digital asset derivatives business. The Chicago-based exchange had previously listed new asset types, including Aptos futures.