Payward has agreed to acquire derivatives platform Bitnomial for up to $550 million in cash and stock to expand its US market footprint.
The deal brings a full suite of US regulatory licences under one roof, including brokerage, clearinghouse and exchange approvals, accelerating Payward’s derivatives strategy.
“The shape of a market is determined by its clearing infrastructure, not its front end,”
Said Payward Co-CEO Arjun Sethi.
Bitnomial is the first crypto-native firm to secure all three licences required for a full-stack derivatives operation in the US, allowing Payward to bypass years of regulatory development.
The acquisition will integrate Bitnomial’s infrastructure with Payward’s platforms, including Kraken and NinjaTrader, expanding offerings such as futures, options and margin trading.
The move aligns with a broader industry trend of consolidation, as crypto firms pursue acquisitions to strengthen compliance, infrastructure and institutional capabilities.
The transaction is expected to close in the first half of 2026, subject to regulatory approvals and customary conditions.