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Kraken parent Payward plans US-regulated access to Hyperliquid HIP-3 perps via its Bitnomial exchange
Payward, Kraken's parent, said it intends to offer US clients perpetual futures that trade on Hyperliquid's blockchain, starting with HIP-3 markets, subject to regulatory approval. Payward calls it the first deployment by a regulated US exchange on Hyperliquid. Perpetual futures are mostly traded offshore today, so this would give US traders a CFTC-regulated route into them. No launch date or fees were given.
- Bitnomial Exchange (a CFTC-designated contract market) would create and run the markets; Bitnomial Clearinghouse would clear and settle them.
- NinjaTrader Clearing, a registered futures commission merchant, would hold client accounts; only accounts it onboards and both firms approve could trade.
- Order matching and settlement would happen on Hyperliquid's public chain.
- Context from Payward: over $85T of perpetual futures traded globally in 2025; Hyperliquid's 30-day volume is above $200B.