Hyperliquid and Kraken's Payward Pursue Regulated Crypto Perps in US Market

Hyperliquid Labs and Kraken's parent company Payward are in advanced talks to bring selected crypto perpetual futures to U.S. traders.

The proposed structure would use Payward subsidiary Bitnomial as the regulated trading venue, allowing eligible U.S. traders access to selected futures linked to tokens built using Hyperliquid technology.

Bitnomial would provide the venue and compliance framework for customers accessing the selected contracts, keeping U.S. trading activity within a regulated exchange environment.

The CFTC has reviewed Payward's proposal outlining the basic structure of the potential partnership, but regulatory approval remains a central requirement for any planned launch.