Payward Unveils Regulated Perpetual Futures Markets for Eligible U.S. Clients on Hyperliquid

Payward, the parent company of Kraken, plans to introduce regulated perpetual futures markets for eligible U.S. clients through its Hyperliquid platform. The initiative will leverage Bitnomial's CFTC-regulated infrastructure stack to deploy, clear, and settle contracts.

The proposed structure differs from Payward's existing U.S. derivatives business, as it would utilize Hyperliquid's public blockchain infrastructure instead of the existing setup. Trades would use Hyperliquid's on-chain order book for matching and recording trades, while Bitnomial Exchange would create and administer the perpetual markets.

Payward plans to restrict access to users who have been approved by both NinjaTrader Clearing and Bitnomial, ensuring that only authorized traders can participate in the proposed contracts. The arrangement would not give American customers unrestricted access to every market currently available through Hyperliquid.