Kraken Parent Payward Eyes First US-Regulated On-Chain Perpetuals

Payward, the parent company of Kraken, has announced plans to launch the first US-regulated on-chain perpetual futures market through its Hyperliquid platform. The new market will be created and cleared by Bitnomial, a CFTC-regulated designated contract market and registered derivatives clearing organization.

NinjaTrader Clearing will hold customer accounts under its CFTC futures commission merchant registration and membership with the National Futures Association. US clients will need to open futures accounts through Payward's registered brokerage operation before trading new perpetual contracts through Hyperliquid.

Payward Co-CEO Arjun Sethi stated that the company already offers US perpetual futures through its existing infrastructure, but this would be the first deployment of Hyperliquid markets in the US. The announcement follows years of perpetual futures activity outside the United States, with CoinGecko reporting more than $85 trillion in global perpetual trading during 2025.