Kraken's Compliant Path to US Market via Hyperliquid

Kraken's parent company, Payward, is moving forward with its plan to offer on-chain perpetual futures to US clients. The new markets will be built on Hyperliquid's HIP-3 framework and deployed by Bitnomial, a regulated exchange acquired by Payward last April. NinjaTrader Clearing, a registered futures broker, will onboard client accounts.

The deployment is seen as a compliant route for Kraken to enter the US market, following comments made by President Trump in August that the Commodity Futures Trading Commission (CFTC) was working towards a compliant path for Hyperliquid. However, regulatory approval is still needed before the plan can go ahead.

Payward already offers crypto perpetual futures for US clients through its clearing setup and has stated that it intends to be the first to hold the keys and carry the regulatory obligations. The company's Co-CEO, Arjun Sethi, made this statement in reference to the new plan.