Kraken Parent Payward Completes Acquisition of Bitnomial to Expand U.S. Derivatives Offering

Payward, the parent company of cryptocurrency exchange Kraken, has completed its acquisition of Bitnomial, a CFTC-regulated derivatives platform. The deal provides Payward with a fully licensed derivatives infrastructure stack that encompasses trading, clearing, and brokerage capabilities under Commodity Futures Trading Commission oversight. This acquisition represents a strategic expansion of Payward's U.S. derivatives offering, allowing the company to operate regulated futures and options products in the American market. The move positions Kraken to compete more directly with established derivatives exchanges in the cryptocurrency space while maintaining compliance with federal regulatory requirements.

Payward's Acquisition of Bitnomial

• ▪Payward completed the acquisition of Bitnomial.
• ▪Payward is the parent company of Kraken.

Expansion of U.S. Derivatives Capabilities Under CFTC Regulation

• ▪The Payward acquisition of Bitnomial covers trading, clearing and brokerage capabilities.
• ▪The Payward acquisition of Bitnomial provides a fully licensed derivatives stack under CFTC oversight.
• ▪The Payward acquisition of Bitnomial expands Payward's U.S. derivatives offering.

Perspective of Payward

• ▪Payward gains vertical integration across the derivatives value chain through the Bitnomial acquisition.
• ▪The Bitnomial acquisition positions Payward to offer CFTC-regulated derivatives products to U.S. customers.

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