# Payward，Kraken 的母公司，同意收購 Bitnomial，該公司是首個同時持有美國商品期貨交易委員會（CFTC）三項牌照的加密衍生品平台。

*fintech · news · 2026-04-17 · Crypto News*

## Key points

- Payward 正在收購 Bitnomial，該公司是唯一持有 CFTC 三項牌照的美國本土加密公司。
- 收購 Bitnomial 使 Payward 在美國 CFTC 監管下擁有完整的交易所、結算及經紀能力。
- Payward 將透過 API 在 Kraken、NinjaTrader 及 B2B 平台提供受監管的美國加密衍生品。
- Bitnomial 的牌照立即完成 Payward 在美國衍生品領域的布局，省去多年監管努力。
- 此交易使 Payward 估值達 200 億美元，高於德意志交易所近期投資後的 133 億美元。

Payward, the parent company of Kraken, agreed to acquire Bitnomial, the first US crypto derivatives platform to hold all three CFTC licenses simultaneously, for up to $550 million in cash and stock, in a deal that values Payward at $20 billion and is expected to close in the first half of 2026. The deal covers 100% of Bitnomial’s equity. The Chicago-based firm spent over a decade securing three separate CFTC approvals — a designated contract market, a derivatives clearing organization, and a futures commission merchant registration — the combination that allows a single entity to run an exchange, clear trades, and offer brokerage services under one CFTC-regulated roof. No other crypto-native US firm holds all three simultaneously. What Payward Gets From the Deal Payward will integrate Bitnomial’s infrastructure across Kraken, NinjaTrader, and Payward Services, its business-to-business platform. Banks, fintechs, and brokerages will access regulated US crypto derivatives through a single API covering futures, options, and leveraged products inside a CFTC-regulated framework. Co-CEO Arjun Sethi described the acquisition as foundational rather than transactional. “We are not acquiring a company,” he said. “We are adding the infrastructure layer that makes the next generation of US derivatives possible.” Building a CFTC-regulated clearinghouse independently requires years of regulatory engagement and capital commitment. Bitnomial collapses that timeline to the length of a deal close. Payward generated $2.2 billion in revenue in 2025, up 33%, with its platforms processing roughly $2 trillion in transactions and holding over $48 billion in customer assets at year-end. How This Fits Payward’s Broader Strategy The Bitnomial deal completes Payward’s global derivatives build. The company acquired a UK crypto futures platform in 2019, launched EU regulated derivatives in 2025, and purchased NinjaTrader for $1.5 billion the same year, giving it retail futures access and a first CFTC registration. Bitnomial adds exchange, clearing, and brokerage licenses on top, creating a vertically integrated US derivatives business. The announcement follows Deutsche Börse’s $200 million investment for a 1.5% stake, a transaction that valued Payward at approximately $13.3 billion. The $20 billion valuation embedded in the Bitnomial deal reflects the strategic premium the market is placing on regulated crypto derivatives infrastructure heading into an environment where the CLARITY Act would formally establish CFTC authority over non-securities digital asset trading. The IPO Context

**Companies:** Payward, Kraken, NinjaTrader
**Countries:** United States

[Read the full story on Crypto News](https://crypto.news/payward-buys-us-crypto-derivatives-firm/)

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