Payward Plans Regulated Hyperliquid Perpetual Futures for US Clients

Payward, the parent company of cryptocurrency exchange Kraken, announced plans on September 16 to offer U.S. clients access to onchain perpetual futures markets through the Hyperliquid blockchain protocol, a move that would create a regulated pathway for a popular offshore trading product. The proposal, which is subject to regulatory approval from the Commodity Futures Trading Commission, would make Payward the first registered U.S. exchange to deploy a market on Hyperliquid. Under the proposed structure, the markets would be deployed, owned, and administered by Bitnomial Exchange, a CFTC-regulated designated contract market. Bitnomial Clearinghouse would handle clearing and settlement, while NinjaTrader Clearing, a CFTC-registered futures commission merchant also owned by Payward, would hold client accounts. Trading would be restricted to users approved by both NinjaTrader and Bitnomial, who would need to complete onboarding and be placed on an allowlist. "A U.S.