Payward Brings Onchain Perpetual Futures to US Clients via Hyperliquid
Payward, the parent company of crypto platform Kraken, is planning to introduce onchain perpetual futures markets for US clients. The new product will be deployed on Hyperliquid's public blockchain and operated by Payward's entities: Bitnomial Exchange, LLC, a CFTC-regulated designated contract market; Bitnomial Clearinghouse, LLC, a CFTC-registered derivatives clearing organization; and NinjaTrader Clearing, LLC, a CFTC-registered futures commission merchant and NFA member.
The move follows Hyperliquid's recognition as the most active onchain perpetuals venue of 2025 by CoinGecko. Payward aims to provide US clients with access to high-quality products, expanding their choice and competition in the market.
Arjun Sethi, Co-CEO of Payward, explained that this move will allow them to put 'clients first, not ourselves.' The markets will be regulated by Bitnomial Exchange, LLC, and only accounts onboarded by NinjaTrader and on both NinjaTrader and Bitnomial's allowlists can trade.
This is a significant development in the world of cryptocurrency, as perpetual futures have been traded outside the US since 2016. According to CoinGecko's 2026 State of Crypto Perpetuals Report, over $85 trillion changed hands worldwide last year alone.