Kraken's parent company, Payward, completed its acquisition of Bitnomial, gaining access to a US-based crypto derivative brand.

CoinFeed reported on May 4th that, according to The Block, Kraken's parent company, Payward, has completed its acquisition of Bitnomial, thereby obtaining a full range of derivatives licenses from the U.S. Commodity Futures Trading Commission (CFTC), including 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 initially launch spot margin services on Kraken, followed by perpetual contracts and options products. Bitnomial is a Chicago-based crypto-native exchange holding all three CFTC licenses, allowing it to operate a full-stack domestic digital asset derivatives business.