Crypto Exchange Kraken to Buy Bitnomial for Up to $550 Million

Crypto exchange Kraken’s parent firm said it’s acquiring derivatives platform Bitnomial Inc. for up to $550 million in a cash-and-stock deal.

Payward Inc., which owns and operates Kraken as well as futures trading platform NinjaTrader, will integrate Bitnomial’s infrastructure across its businesses, the company said in a statement on Friday. Bitnomial holds several licenses issued by the US Commodity Futures Trading Commission, including for an exchange, clearinghouse and clearing brokerage.

The combination will allow Kraken to offer regulated derivatives products across all of its major markets, it said. The deal is expected to close in the first half of ...