PANews May 4 news, according to The Block report, Kraken's parent company Payward has completed the acquisition of Bitnomial, thus obtaining the full derivative brand license issued by the Commodity Futures Trading Commission (CFTC), including the licenses for Futures Commission Merchant (FCM), Designated Contract Market (DCM), and Derivatives Clearing Organization (DCO).

Payward co-CEO Arjun Sethi stated that the company will first launch spot margin services on Kraken, followed by perpetual contracts and options products. Bitnomial is a Chicago-based crypto-native exchange holding three types of licenses issued by the CFTC, which allows it to operate a full-stack domestic digital asset derivatives business.

This acquisition is expected to be valued at up to $550 million, including cash and stock, with Payward's valuation at $20 billion. Payward plans to expand the Bitnomial team and continue operating its derivatives business under existing licenses and regulatory frameworks. In addition, Payward also revealed that it previously secured a $200 million investment from Deutsche Börse Group and is preparing for a potential public listing.

According to previous news, Payward plans to acquire Bitnomial for $550 million, obtaining full US licensed derivatives stack.

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