Tech · DL News
Kraken to buy derivatives exchange Bitnomial for $550m in latest acquisition
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Kraken’s parent company is buying another exchange, Bitnomial, for $550 million In 2025, the firm made five acquisitions.
Key facts
- The Cheyenne, Wyoming-based company said Friday that it was buying Bitnomial for up to $550 million payable in cash and stock in a transaction that values Payward’s equity at $20 billion
- Kraken’s parent company is buying another exchange, Bitnomial, for $550 million In 2025, the firm made five acquisitions
- Bitnomial spent a decade building it: crypto settlement, crypto collateral, continuous 24/7 markets
- The company’s portfolio now includes futures trading platform NinjaTrade, which it bought for $1.5 billion, proprietary trading form Breakout, tokenised assets platform Backed Finance, and token
Summary
The Cheyenne, Wyoming-based company said Friday that it was buying Bitnomial for up to $550 million payable in cash and stock in a transaction that values Payward’s equity at $20 billion. These are capabilities that cannot be retrofitted onto legacy systems.” Kraken will add Buitnomial’s spot margin, perpetuals, and options services for US clients, Sethi said. Kraken co-CEO Arjun Sethi told DL News in September that the crypto exchange had more deals lined up. The company’s portfolio now includes futures trading platform NinjaTrade, which it bought for $1.5 billion, proprietary trading form Breakout, tokenised assets platform Backed Finance, and token management platform Magna. It previously filed a draft statement of the Form S-1 to the Securities and Exchange Commission in November.