Payward Brings Regulated Onchain Perpetual Futures to US Clients
Payward, the parent company of Kraken, is planning to launch onchain perpetual futures for US clients through Hyperliquid's HIP-3 markets. This move aims to connect regulated US derivatives infrastructure with one of crypto's largest onchain trading venues.
The contracts will trade on Hyperliquid's public blockchain, which records transactions through an onchain order book. Payward will retain responsibility for the regulated market infrastructure, and clients must complete onboarding and meet both firms' allowlists to access the new contracts.
Hyperliquid has emerged as a major venue for onchain perpetual trading since its launch in 2023. The platform processed over $200 billion in the past 30 days, according to DefiLlama data, and CoinGecko ranked it as the most active onchain perpetuals venue in 2025.
Payward has reported 6.6 million funded accounts as of June 30, 2026, with client assets exceeding 100% backing, independently reviewed reserves show.