Payward Brings Regulated US Derivatives to Hyperliquid Onchain Trading

Payward, the parent company of Kraken, is set to launch onchain perpetual futures for US clients through Hyperliquid's HIP-3 markets. This move could bridge regulated US derivatives clearing with a major onchain trading venue and boost crypto derivatives adoption.

The contracts will trade on Hyperliquid's public blockchain, using an onchain order book to record transactions. Payward plans to use Bitnomial Exchange and Clearinghouse to create, manage, clear, and settle the contracts. NinjaTrader Clearing will carry eligible client accounts and enforce access requirements.

Only clients who complete onboarding and meet both firms' allowlists can trade the new contracts. This move aims to bring Hyperliquid-based perpetuals into a regulated US framework.