The acquisition provides a fully licensed derivatives stack under CFTC oversight, covering trading, clearing and brokerage.
Payward, the parent company of Kraken, announced it has completed its acquisition of crypto derivatives venue Bitnomial, giving it control of a fully CFTC-regulated derivatives stack in the United States.
The acquisition gives Payward a three key infrastructure components -- Futures Commission Merchant, Designated Contract Market and Derivatives Clearing Organization -- that it plans to use to expand federally regulated products across Kraken and NinjaTrader, starting with spot margin, with perpetuals and options expected to follow.
Payward said Bitnomial will continue operating within its existing regulatory structure, with the deal enabling partners, including fintechs, banks and brokerages, to access US-regulated derivatives through the company's infrastructure platform.
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