Kraken Parent Plans Regulated On-Chain Perpetual Futures for US Traders

Payward, the parent company of Kraken, is planning to bring on-chain perpetual futures markets to US traders through its Hyperliquid protocol. This move aims to provide a regulated way for US traders to access these markets, which have largely developed outside the US.

The proposed solution involves using Hyperliquid's HIP-3 market and would require regulatory approval before launch. The trades would be transacted on the public blockchain, with the network itself matching and recording trades.

Payward has announced that two of its owned companies, Bitnomial and NinjaTrader Clearing, would handle the regulated end of the business. Bitnomial would serve as the marketplace for completing trades and settling contracts, while NinjaTrader Clearing would act as the custodian for customer accounts.

The setup is designed to provide transparency associated with blockchain-based markets while keeping access within a controlled system. However, US traders wishing to open futures accounts via Payward's broker will require account approval from NinjaTrader and Bitnomial.