Kraken Officially Enters US Crypto Derivatives Market with Bitnomial Acquisition

Kraken parent Payward has completed its acquisition of Bitnomial, a crypto-native derivatives platform licensed by the US CFTC. The crypto exchange can now offer options and futures on Bitcoin, Ethereum, and other altcoins, accepting digital assets as margin collateral and settlement.

Kraken Parent Payward Completes Bitnomial Acquisition

Payward announced the completion of its acquisition of Bitnomial, the first fully CFTC-licensed crypto derivatives platform. It will offer regulated spot margin, perpetuals, and options to eligible US clients on Kraken and NinjaTrader.

With the acquisition, Kraken parent Payward now holds complete U.S. derivatives licenses, including a Futures Commission Merchant, a Designated Contract Market, and a Derivatives Clearing Organization, according to the latest press release.

Arjun Sethi, Co-CEO of Payward and Kraken, said the company will start by launching spot margin services after acquiring Bitnomial, with perpetuals and options to follow. “That stack is what makes the next set of products possible,” Sethi added.

Payward plans to expand Bitnomial’s team and operations as it grows its US derivatives business. The company revealed that it planned to acquire Bitnomial for up to $550 million in cash and stock, valuing Payward’s equity at $20 billion.

Also Read: Best Crypto Derivative Futures Trading Platforms

Bitcoin, Ethereum, XRP, Solana, ADA Options and Futures Available to Trade

Bitnomial is the only derivatives exchange offering a crypto-margined and crypto-settled market in the United States. The exchange supports multiple crypto assets for spot margin collateral, such as Bitcoin, Ethereum, XRP, and Ripple USD (RLUSD).

Kraken users can trade Bitcoin derivatives, including physically delivered futures, perpetuals, options, and hashrate futures on Bitnomial. Also, Bitnomial supports futures trading for altcoins such as XRP, Solana, Ethereum, Cardano (ADA), Aptos (APT), and XTZ.

In the options market, it currently offers Bitcoin and Ethereum options, with settlement in crypto or USD. It also offers perpetual futures, marking the convergence of the global crypto perpetual futures market and the U.S. traditional futures industry.

Kraken filed for IPO in April, co-CEO Arjun Sethi confirmed earlier. Notably, Deutsche Borse Group invested $200 million in Kraken in exchange for a 1.5% fully diluted ownership stake, indicating a valuation of $13.3 billion.