Kraken's parent company Payward to acquire derivatives exchange Bitnomial for $550 million in cash and stock
CoinDesk·60-word summary·1 min read
Payward, the parent company of Kraken, is set to acquire derivatives exchange Bitnomial for $550 million in cash and stock. This acquisition will provide Payward with a fully licensed U.S. crypto derivatives platform, enhancing its presence in regulated markets and potentially increasing its market share in the growing derivatives sector.
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Kraken's parent company, Payward, is set to acquire Bitnomial for up to $550 million, enhancing its position in the U.S. crypto derivatives market. This acquisition aims to accelerate the expansion of regulated products, responding to increasing market demand. The deal values Payward at $20 billion, indicating strong growth potential.
