"By acquiring Bitnomial, Payward gains infrastructure that would take years to build. The exchange spent more than a decade developing a system designed for digital assets, including crypto settlement, crypto collateral, and continuous trading."
"Payward Co-CEO Arjun Sethi said clearing infrastructure shapes how markets function, pointing to settlement systems and margin models as the core of derivatives innovation. He said the U.S. lacks clearing infrastructure built for digital assets, which made Bitnomial's platform a strategic target."
"Bitnomial founder Luke Hoersten said the company built its exchange and clearinghouse from the ground up for crypto markets. He pointed to features such as perpetual futures, crypto-settled products, and a unified trading book across spot, futures, and options as capabilities that legacy systems cannot support without redesign."
Payward, the owner of Kraken, is set to acquire Bitnomial in a deal valued at up to $550 million. This acquisition will provide Payward with a fully licensed U.S. crypto derivatives platform, enhancing its presence in regulated markets. Bitnomial is notable for securing all necessary licenses to operate a full-stack derivatives business. The deal is expected to close in the first half of 2026, pending regulatory approvals. This acquisition will integrate Bitnomial's advanced infrastructure into Payward's ecosystem, which includes Kraken and NinjaTrader.
Read at Bitcoin Magazine
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