Payward Deploys Onchain Perpetual Futures Markets for US Clients

Kraken's parent company, Payward, is planning to launch onchain perpetual futures markets for its US clients. This move will be made in partnership with Hyperliquid, a public blockchain that provides an onchain order book and trade recording system. The new markets are intended to start with the HIP-3* markets.

The use of onchain perpetual futures markets is expected to provide greater transparency and security for traders. By running on the public blockchain, all trades will be recorded and matched through the Hyperliquid platform. This approach also allows for decentralized trading, giving users more control over their transactions.

Kraken's parent company has not announced a specific timeline or details regarding the launch of these new markets. However, with the rise of decentralized finance (DeFi) solutions, this move is likely to be met with interest from traders and investors looking for alternative trading options.