LATEST: ️ Kraken parent company Payward plans to offer US clients onchain perpetual futures on Hyperliquid's blockchain, pending regulatory approval.

What happened

Kraken's parent company, Payward, plans to offer US clients onchain perpetual futures on Hyperliquid's blockchain, but this is pending regulatory approval. Until that approval is granted, the service cannot be launched.

Confirmed

Global impact / market context

This could let US investors trade perpetual futures directly on a blockchain, cutting out middlemen and possibly lowering costs. However, regulatory approval is uncertain, so any impact on revenue or competition will only materialize if the plan is approved.

Analyst inference

Perpetual futures are contracts without an expiry date, often used for betting on price moves. Offering them onchain may signal a shift toward decentralized trading venues, which could pressure traditional exchanges if approved and adopted.

Analyst inference

What to watch

1. Payward has not yet received regulatory approval, so watch for any official announcements from US regulators about whether this service will be allowed. Confirmed
2. The plan is to use Hyperliquid's blockchain for onchain perpetual futures. Payward must secure approval before offering this to US clients, so follow their next steps. Proposed
3. If approved, this could increase competition in the derivatives market, potentially affecting trading fees and volumes. Investors may watch for responses from other exchanges. Analyst inference

Evidence

• x.com