Payward Aims for Regulated Perpetual Futures in U.S. Markets through Hyperliquid

Payward, the parent company of crypto exchange Kraken, is planning to introduce regulated on-chain perpetual futures for U.S. traders through its Hyperliquid platform. The proposed contracts would operate under Bitnomial Exchange rules and fall within a Commodity Futures Trading Commission-regulated framework.

The plan involves partnering with NinjaTrader Clearing and Bitnomial to create, administer, clear, and settle the contracts on Hyperliquid's public blockchain. This move aims to combine Hyperliquid's decentralized exchange infrastructure with regulated U.S. derivatives services.

Perpetual futures allow traders to speculate on an underlying asset without owning it, with periodic funding payments exchanged between traders. The product has become a significant part of global crypto trading but has largely remained outside regulated U.S. markets.