Kraken Parent Seeks Regulatory OK for Onchain Perpetuals in US

Payward, the parent company of crypto exchange Kraken, is seeking to deploy onchain perpetual futures for US clients on Hyperliquid. This move aims to create a regulated path for American traders to access perpetual markets that have largely operated outside domestic oversight since their debut in 2016.

The proposal remains subject to regulatory approval and no launch date has been set. If cleared, it would mark the first time a registered US exchange and clearinghouse operator has deployed a market on Hyperliquid's public blockchain.

Petrol futures have traded mostly outside regulated venues since their introduction in 2016. In 2025 alone, more than $85 trillion changed hands worldwide, according to CoinGecko's State of Crypto Perpetuals Report.