Kraken-linked Hyperliquid Testnet Raises Hopes for Permissioned Perpetual Futures Markets

A Hyperliquid testnet has been deployed using Kraken's name and has whitelisted 10 wallets, testing three compliance controls. These controls include forced position reductions and collateral transfers, typical of centralized exchange compliance.

The deployment suggests that Kraken might be exploring permissioned perpetual futures markets via HIP-3. However, Kraken has not confirmed involvement in the testnet.

HIP-3 enables independent builders to run perpetual markets on Hyperliquid's infrastructure with new permissioned features potentially allowing regulated operators to combine blockchain settlement with identity checks.