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[BUSINESS] · United States · 8 sources

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Payward plans CFTC-regulated perpetual futures on Hyperliquid

Payward, the parent company of Kraken, intends to become the first CFTC-regulated deployer to launch perpetual futures markets on the Hyperliquid blockchain using the new HIP-3* framework. This initiative aims to provide regulated onchain derivatives to eligible US customers.

Under the proposed structure, Bitnomial will serve as the deployer, managing market creation, ownership, and administration, as well as contract clearing and settlement. NinjaTrader Clearing, a registered futures commission merchant, will manage customer accounts. To participate, traders must be on the allowlists of both Bitnomial and NinjaTrader.

The HIP-3* upgrade introduces optional permissioned markets via onchain allowlists, allowing operators to restrict access to meet specific regulatory requirements without altering existing permissionless markets. Hyperliquid will provide the underlying infrastructure layer for matching orders and recording trades onchain. The plan remains subject to regulatory approval and is currently in the testing phase on a testnet.

Entities

Bitnomial · CFTC · Commodity Futures Trading Commission · Hyperliquid · Kraken · NinjaTrader Clearing · Payward

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