Kraken parent Payward plans to offer US clients perpetual futures on Hyperliquid through CFTC-regulated Bitnomial, pending approval. The proposal would connect Kraken's US customer base with one of crypto's most prominent perpetual-futures ecosystems.
Why it matters
The structure pairs Hyperliquid's derivatives platform with Bitnomial's regulated US market infrastructure. Approval would give Payward a route to offer this product to US clients while keeping the proposed activity inside a CFTC-regulated venue.
Market impact
The plan is not yet live, and regulatory approval remains the key gate. If approved, it would deepen the link between crypto-native perpetual trading and regulated derivatives access, while putting compliance and product execution under closer market scrutiny.
Frequently asked questions
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What does Payward plan to offer US clients?
Payward plans to offer US clients perpetual futures on Hyperliquid through CFTC-regulated Bitnomial, pending approval.
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Which entities are involved in the proposed product?
Kraken parent Payward is proposing the offering, with Bitnomial serving as the CFTC-regulated venue and Hyperliquid providing the perpetual-futures ecosystem.
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Has the Hyperliquid perpetual-futures offering launched?
No. The plan is pending regulatory approval and is not yet live.
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Why is Bitnomial important to the proposal?
Bitnomial would provide the CFTC-regulated venue through which Payward plans to offer the product to US clients.
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What could approval mean for crypto derivatives markets?
Approval would connect crypto-native perpetual futures with regulated US derivatives access and place greater focus on compliance and product execution.
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