Market Incident
Public · Developing
Payward to Launch Perpetual Futures via Hyperliquid Protocol
Payward announced plans to launch regulated perpetual futures contracts in the United States, using Hyperliquid's on-chain infrastructure and Bitnomial's clearing services. Perpetual futures are financial contracts without an expiry date, allowing continuous trading of an asset like cryptocurrency.
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Updated:
What happened
Kraken’s parent company, Payward, said it plans to offer U.S. customers perpetual futures contracts on Hyperliquid’s blockchain. These contracts have no expiration date. The service is pending regulatory approval, and only approved accounts can trade. Payward will use Hyperliquid’s technology and Bitnomial’s clearing services.
Global impact / market context
This matters because it could bring crypto trading that usually happens outside official rules into a regulated U.S. market. If approved, it may give ordinary investors a new way to bet on crypto prices with leverage, but also adds risk. It also signals that major exchanges are adopting Hyperliquid’s technology, which could affect how crypto markets run.
What to watch
- Check whether U.S. regulators approve the service. Without approval, the launch cannot happen, so this is the key hurdle.
- Watch if Kraken actually offers these contracts to its customers after approval. If it does, it would show real adoption of Hyperliquid’s tech.
- See if other major exchanges follow Kraken’s move. More adoption could change how crypto futures are traded and regulated.
Evidence
- Bitcoin.com — Kraken Parent Payward to Launch US Onchain Perpetuals
- X - CoinMarketCap — LATEST: ️ Kraken parent company Payward plans to offer US clients onchain perpetual futures on Hyperliquid's blockchain, pending regulatory approval.
- X - RealAllinCrypto — Hyperliquid is taking a ANOTHER HUGE step into regulated U.S. finance. 🇺🇸 Kraken's parent Payward plans to use @HyperliquidX's technology to bring regulated perpetual futures to American traders. Wall Street markets moving onchain with the help of $HYPE
- AMBCrypto — Kraken parent plans regulated Hyperliquid perps for US traders
- cryptodnes — Payward to Launch Perpetual Futures via Hyperliquid Protocol
- Incident timeline — Kraken Parent Payward to Launch US Onchain Perpetuals
- Incident timeline — LATEST: ️ Kraken parent company Payward plans to offer US clients onchain perpetual futures on Hyperliquid's blockchain, pending regulatory approval.
- Incident timeline — Hyperliquid is taking a ANOTHER HUGE step into regulated U.S. finance. 🇺🇸 Kraken's parent Payward plans to use @HyperliquidX's technology to bring regulated perpetual futures to American traders. Wall Street markets moving onchain with the help of $HYPE
- Incident timeline — Kraken parent plans regulated Hyperliquid perps for US traders
- Incident timeline — Payward to Launch Perpetual Futures via Hyperliquid Protocol